  This paper continues the study of holomorphic semistable principal G-bundles
over an elliptic curve. In this paper, the moduli space of all such bundles is
constructed by considering deformations of a minimally unstable G-bundle. The
set of all such deformations can be described as the C^* quotient of the
cohomology group of a sheaf of unipotent groups, and we show that this quotient
has the structure of a weighted projective space. We identify this weighted
projective space with the moduli space of semistable G-bundles, giving a new
proof of a theorem of Looijenga.
