By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – A wholly owned indirect subsidiary of Sunnova Energy International Inc. issued on Tuesday $194.5 million of 5.65% solar loan-backed notes, series 2024-1 class A (Kroll: A-), $16.5 million of 6% solar loan-backed notes, series 2024-1 class B (Kroll: BBB) and $15 million of 9% solar loan-backed notes, series 2024-1 class C (Kroll: BB-), according to an 8-K filing with the Securities and Exchange Commission.
The Rule 144A and Regulation S notes have an anticipated repayment date of April 30, 2032.
The company intends to use the proceeds for general corporate purposes.
Sunnova Energy is a Houston-based solar and energy storage service provider.
| Issuer: | Sunnova Energy International Inc. subsidiary
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| Amount: | $226 million
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| Issue: | Solar loan-backed notes, series 2024-1
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| Maturity: | April 30, 2032
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| Trustee: | Wilmington Trust, NA
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| Issue date: | Feb. 13
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| Distribution: | Rule 144A and Regulation S
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| Class A notes
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| Amount: | $194.5 million
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| Coupon: | 5.65%
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| Ratings: | Kroll: A- (sf)
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|
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| Class B notes
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| Amount: | $16.5 million
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| Coupon: | 7%
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| Ratings: | Kroll: BBB (sf)
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|
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| Class C notes
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| Amount: | $15 million
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| Coupon: | 9%
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| Ratings: | Kroll: BB- (sf)
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