Sunnova Closes on Record-Setting Funding with Credit Suisse

게시됨 2017. 5. 2.
Sunnova Energy 
Sunnova Energy Corporation announced today the closing of another round of funding that includes an industry record-setting private placement by its subsidiary, Helios Issuer, LLC, of approximately $255 million aggregate principal amount of asset-backed notes. Credit Suisse acted as the sole structuring agent and sole bookrunner. The deal also includes two warehouse credit facilities in an aggregate principal amount of $360 million. Combined, this represents a $615 million round of funding. This financing round represents Sunnova's first asset-backed notes securitization.

Sunnova has now raised $695 million over the past two months and more than $2 billion in the past four years, including tax equity, debt and corporate equity, from private equity firms, institutional investors and major Wall Street banks.

"The U.S. power industry is changing and we are leading that change," said Jordan Kozar, Chief Financial Officer. "These financings are yet another sign of the strength that we have created through focus and financial discipline."

"Our view has been the same from day one: distributed solar is becoming the most cost-effective form of power service and the company that can focus on long-term profitability in this growing and dynamic sector will be well-positioned to succeed," said Sunnova CEO William J. Berger. "At the end of the day, Sunnova isn't simply a solar company; we're a power company."

Credit Suisse Securities (USA) LLC acted as sole structuring agent and sole bookrunner for the asset-backed notes private placement.


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