debt
confidence high
sentiment neutral
materiality 0.60
Clearway amends $495M revolver change-of-control definition for TotalEnergies deal
Clearway Energy, Inc.
- Seventh Amendment to revolving credit facility alters Change of Control definition to include TotalEnergies SE and affiliates.
- Amendment effective upon consummation of TotalEnergies' acquisition of 50% of GIP's interest in Clearway Energy Group.
- Clearway Energy Group is the sponsor holding 42% economic interest in CWEN; TotalEnergies deal expected by H2 2022.
- Revolving commitments remain unchanged at $495 million; all other credit terms substantially intact.
- Amendment required lender consent and includes reaffirmation of existing guarantees and liens.