SunPower ups revolver to $300 million, adds letter-of-credit sublimit

By Wendy Van Sickle

Columbus, Ohio, Feb. 17 – SunPower Corp. increased availability to $300 million under its revolving credit agreement with Credit Agricole CIB as administrative agent, according to an 8-K filed with the Securities and Exchange Commission.

Also under Wednesday’s amendment to the credit agreement, SunPower established a sublimit of $200 million for letters of credit.

Depending on the company’s leverage ratio, interest will range from 90 basis points to 120 bps for any performance letter of credit and 150 bps to 200 bps for any other letter of credit.

The credit agreement is originally dated July 3, 2013.

SunPower is a San Jose, Calif.-based provider of high-efficiency solar cells, solar panels and solar systems.

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