sunedisonSunEdison, the world’s largest renewable energy development company, announced on Wednesday, in partnership with its yieldco, TerraForm Power, that it had successfully raised the necessary $280 million 7-year loan facility of TerraForm Private Warehouse.

The offering was oversubscribed, and in the end was eventually placed “with a diverse group of institutional investors.” The loan will bear an interest rate of LIBOR (London interbank offered rate), subject to a 1.0% floor, plus 4.0% in line with the initial guidance to the market.

TerraForm Private Warehouse was formed to hold 521 MW of acquired operating assets from Atlantic Power for a maximum period of 7 years. According to the original announcement, made back at the end of June, the warehouse facility was originally worth $525 million in aggregate size, and is likely to exist until TerraForm Power — which has exclusive call right over the assets held as part of the warehouse — can acquire them for its own portfolio.

The assets in question are located in Idaho and Oklahoma, are currently under contracted long-term PPAs with investment-grade utilities, and have a weighted average life of around 18 years.