Sunnova prices USD-212m solar securitisation

Jul 26, 2021 02:38 PM ET
  • United States domestic solar and also battery storage firm Sunnova Energy International Inc (NYSE: NOVA) recently valued a USD-212-million (EUR 180m) securitisation of residential solar and also battery loan plans.
Sunnova prices USD-212m solar securitisation
Image: Business Wire

The securitisation contains USD 106.2 million in AA- (sf) rated 1.62% notes and also USD 106.2 million in A- (sf) ranked 2.01% notes. The final maturity is set for July 20, 2048. The notes are backed by 6,435 roof solar systems mounted throughout 19 states as well as territories.

"On this 2021-B transaction, we attained spreads of 80 bps and also 120 bps for the AA- as well as the A- tranches, respectively, over the rate of interest standard. This represents Sunnova's finest pricing to-date for a solar and also storage space finance property securitization," commented Robert Lane, Executive Vice President, Principal Financial Officer of Sunnova.

The deal is seen to nearby July 28, 2021. It represents the company's 4th solar car loan securitisation and also its 10th residential solar securitisation, it claimed.

Credit score Suisse served as the sole structuring representative and also bookrunner.

On the same day, Sunnova likewise launched a brand-new green funding structure to lead its investments in new and existing jobs with environmental benefits. It has received a "Dark Environment-friendly" ranking after an independent exterior assessment by CICERO Shades of Environment-friendly. This is the highest feasible level, the company noted.

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