Solar Developer SunEdison Files Chapter 11 Bankruptcy Citing $16.1 Billion in Debt (Photo by Ethan Miller/Getty Images)

Solar Developer SunEdison Files Chapter 11 Bankruptcy Citing $16.1 Billion in Debt

SunEdison Inc., Maryland Heights, Mo., one of the largest solar developers in the world, is seeking reorganization of its approximately $16.1 billion in debt under Chapter 11 of the U.S. Bankruptcy Code, a move anticipated by the market for several months. SunEdison said it seeks to continue operating while undergoing a court-supervised restructuring, and has secured $300 million in debtor-in-possession financing from a consortium of existing creditors to continue funding operations.

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