Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Altus Power, Inc. > News item |
Altus gets $47 million upsize in Blackstone facility, pays off loan
By Devika Patel
Knoxville, Tenn., June 21 – Altus Power Inc. upsized its credit facility with Blackstone by $47 million and used $15.8 million of the proceeds to pay off the $15.8 million of borrowings under a construction credit agreement by and among APA Construction Finance, LLC, Fifth Third Bank, NA and Deutsche Bank New York Branch on June 15, according to an 8-K filed with the Securities and Exchange Commission.
This incremental financing is an expansion of the $204 million facility initiated in February 2023.
The additional $47 million will carry the same interest rate and terms as the initial borrowings, a fixed interest rate of 5.62% for the duration of the facility and the option to refinance the debt without penalty after three years.
As a result of the upsize, the total capacity available under the Blackstone credit facility is $251 million.
Altus Power is a Stamford, Conn.-based developer, owner and operator of commercial-scale solar facilities.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.