Sunrun unit amends revolver to extend to 2023, increase commitments

By Sarah Lizee

Olympia, Wash., March 29 – Sunrun Inc. said a wholly owned subsidiary entered into an amended and restated senior secured revolving credit agreement on Tuesday to extend the maturity date to March 27, 2023 from December 2020, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also extends the availability period to March 27, 2021 from January 2019 and increases the advance rate from 65% of the borrowing base to 68%.

Also, the amendment permits the borrower to increase total loan commitments available by $290 million to $600 million and to increase the total letter-of-credit commitments by $13 million to $20 million.

Sunrun is a San Francisco-based residential solar company.

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