Cypress Creek safeguards financial debt funding for 1.6 GW solar portfolio
Nov 12, 2020 05:00 PM ET
- Cypress Creek Renewables has closed a seven-year financial obligation funding for the holding business that owns its 1.6 GW portfolio of operating solar projects.
The US$ 200 million center funds a portfolio consisting of more than 200 solar and also storage space facilities in 13 US states.
Cypress Creek CFO Rebecca Cranna said the financial obligation center "marks an essential turning point" in the company's growth, offering it with the "flexibility to possess possessions where we see strategic worth".
Investec served as sole bookrunner and coordinating lead arranger, while various other joint lead arrangers consisted of Crédit Agricole, East West Bank as well as Silicon Valley Bank.
The offer comes weeks after Cypress Creek finished a tax obligation equity buyout as well as refinancing of project-level financial debt for 92MW of solar in North Carolina.
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