New York, July 27 – Sunnova Energy International Inc. issued $212.4 million of solar loan backed notes on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.
The company sold $106.2 million of 1.62% solar loan backed notes, series 2021-B class A and $106.2 million of 2.01% solar loan backed notes, series 2021-B class B.
Both series of notes have an anticipated repayment date of July 20, 2028.
Collateral for the notes is a portfolio of solar loans made to consumers for the purpose of installing residential photovoltaic and/or energy storage systems.
Proceeds from the sale will be used to finance existing or new eligible green projects including to repay existing financing arrangements and for general corporate purposes.
The offering was made under Rule 144A and Regulation S.
| Issuer: | Sunnova Energy International Inc.
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| Issue: | Solar loan backed notes, series 2021-B
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| Amount: | $212.4 million
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| Repayment date: | July 20, 2028
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| Issue date: | July 27
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| Distribution: | Rule 144A/Regulation S
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| Trustee: | Wilmington Trust, NA
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| Class A notes
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| Issue: | Solar loan backed notes, series 2021-B class A
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| Amount: | $106.2 million
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| Coupon: | 1.62%
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| Rating: | Kroll: AA- (sf)
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| Class B notes
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| Issue: | Solar loan backed notes, series 2021-B class B
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| Amount: | $106.2 million
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| Coupon: | 2.01%
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| Rating: | Kroll: A- (sf)
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