Analyst Summary
- Trina Solar US Manufacturing Module 1, LLC (TUM 1), a subsidiary of T1 Energy Inc., entered into Amendment No. 4 to its existing credit agreement.
- The amendment extends the date by which TUM 1 needs to satisfy or waive the conditions precedent set forth in Section 4.03 of the Amended Credit Agreement from March 14, 2025, to April 30, 2025.
- The amendment is intended to prevent an event of default under the Amended Credit Agreement.
- The credit agreement, dated July 16, 2024, supports the development, design, and construction of a solar photovoltaic module manufacturing facility in Wilmer, Texas, with a 5 GWdc annual production capacity.
- The amendment was made with the consent of the Required Lenders and is subject to certain conditions, including the execution of the amendment and fee letter by all parties and the payment of all due fees and expenses.