yabucoa financing Since these things tend to get forgotten by those less involved in DD, I thought I would remind those folks about what is going on with Yab.
1. $12 million in panels sitting in warehouse in Puerto Rico
2. Inverter supplier went bankrupt, thus a new supplier agreement and new drawings etc. needed to be made for the project creating delays
3. New inverter supplier established and drawings etc. submitted for approval from PR officials. The "new" final permit has now been or is very close to being completed
4. Financial close imminent, likely in February.
And in one CC it was pointed out that a takeover company would be able to cash out of the financing deal if they choose, but at any rate the difference in the loan rate is mute, so we don't need to be concerned with the question "wouldn't a larger company be able to nail down a better financing deal". It is much more important to hand off a financial close project which means construction is in full swing and the hurdles have all been leapt.
DO NOT TENDER TO THE BROOKSHARKS