Have you suffered losses investing in SunEdison 2.375% April 15 2022 bonds? If so, The White Law Group may be able to help.
According to their website, SunEdison is the largest global renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers.
On April 21, 2016, SunEdison, Inc. and 25 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York
Unfortunately, shareholders won’t get an official voice in the bankruptcy of SunEdison Inc. because the company is “hopelessly insolvent,” with debts outweighing assets by at least $1 billion, a bankruptcy judge has ruled.
The decision came on August 12th after a court fight aimed at proving the solar-power developer has enough value left to offer hope that shareholders would avoid a wipeout in bankruptcy.
The dim outlook for SunEdison’s bankruptcy isn’t news to bond investors, who have been trading the company’s debt for 6 cents on the dollar or less. That price reflects their conviction that SunEdison’s bankruptcy won’t produce enough value to pay them.
High-yield bonds—also called non-investment-grade bonds, speculative-grade bonds, or junk bonds—are bonds that are rated below investment grade, typically ‘BB’ or lower by Standard & Poor’s and ‘Ba’ or lower by Moody’s. They pay high yields to bondholders because the borrowers credit ratings are less than pristine, making it difficult for them to acquire capital at an inexpensive cost. Junk bonds carry an above average risk that the issuer will default on the bond. The increased risk makes them arguably unsuitable for many investors.
If you suffered losses investing in SunEdison 2.375% April 15 2022 bonds offering and would like to speak to a securities attorney to discuss your litigation options, please call the securities attorneys of The White Law Group at 888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on the firm, visit www.WhiteSecuritiesLaw.com.
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