BETHESDA, Md., Jan. 26, 2018 (GLOBE NEWSWIRE) -- TerraForm Global, Inc., a Delaware corporation, announced today that its wholly-owned subsidiary, TerraForm Global Operating, LLC has commenced a cash tender offer and in the related Letter of Transmittal.

The Offer will expire at 11:59 p.m., New York City time, on February 26, 2018 (such time and date, as it may be extended, the “Expiration Time”), in each case, unless earlier terminated by the Issuer. Notes validly tendered may be validly withdrawn at any time at or before the Expiration Time, but not thereafter.

The Offer is being made pursuant to the indenture dated as of August 5, 2015 (the “Indenture”) among the Issuer, the guarantors party thereto and U.S. Bank National Association, as trustee, under which the Notes were issued. The Indenture and the Notes provide that the Issuer must make an offer to repurchase Notes from holders in connection with the occurrence of a “Change of Control” (as defined in the Indenture). Upon completion of TerraForm Global, Inc.’s previously announced merger with an affiliate of Brookfield Asset Management Inc., a Change of Control occurred with respect to the Issuer. Accordingly, the Issuer is offering to purchase any and all of the Notes at a purchase price of 101% of the principal amount thereof, plus accrued and unpaid interest, if any, on the Notes repurchased to the Payment Date (as defined below), subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date.