Quinto Project repays, terminates $377 million credit facility early

By Wendy Van Sickle

Columbus, Ohio, June 30 – Solar Star California XIII, LLC, which also operates as the Quinto Project Co., repaid and terminated a $377 million credit facility early on June 24, according to an 8-K filed with the Securities and Exchange Commission.

The company entered into the facility with Santander Bank, NA, Mizuho Bank, Ltd. and Credit Agricole Corporate and Investment Bank on Oct. 17, 2014 in anticipation of the planned construction of the Quinto Solar Energy Project in Merced County, California.

With the June 24 closing of the initial public offering, the company repaid the full $224.3 million outstanding under the credit facility, and the facility was terminated. There were no penalties for the early termination.

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

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