Altus Power upsizes senior funding facility to USD 503m

Sep 7, 2021 07:47 PM ET
  • Altus Power Inc, the tidy energy company that is preparing to listing in New york city via a merging with a blank-check firm, announced today that it has upsized an investment-grade elderly funding facility to USD 503 million (EUR 425m).
Altus Power upsizes senior funding facility to USD 503m
Image: Altus Power.

The firm, which provides locally-sited solar generation, power storage and also electric vehicle (EV) charging, has included USD 135 million to its existing senior funding center with Blackstone Credit's Structured Products Group. It said it made use of the center in part to money the current acquisition of a 79-MW solar plant portfolio.

The upsized facility currently brings a weighted ordinary 3.51% yearly fixed rate, below 3.70%. It is due in February 2056.

As introduced in July, Altus Power will merge with CBRE Acquisition Holdings inc (NYSE: CBAH), a blank-check business sponsored by commercial realty services major CBRE Group Inc (NYSE: CBRE). The purchase is anticipated to produce gross cash money earnings of about USD 678 million to the company.

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