By Wendy Van Sickle
Columbus, Ohio, June 27 – Sunnova Energy International Inc. completed an issuance of $355 million of seven-year solar loan-backed notes through a wholly owned subsidiary on Monday, according to an 8-K filing with the Securities and Exchange Commission.
Sunnova issued $317 million of 4.95% solar loan-backed notes, series 2022-1 class A (Kroll: A-) and $38 million of 6.35% solar loan-backed notes, series 2022-1 class B (Kroll: BBB-).
Proceeds will be used for general corporate purposes.
Sunnova is a Houston-based solar energy company.
| Issuer: | Sunnova Energy International Inc. subsidiary
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| Issue: | Solar loan-backed notes
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| Amount: | $355 million
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| Repayment date: | July 30, 2029
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| Trustee: | Wilmington Trust, NA
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| Issue date: | June 27
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| Distribution: | Rule 144A and Regulation S
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| Series 2022-1 class A
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| Amount: | $317 million
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| Coupon: | 4.95%
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| Rating: | Kroll: A-
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| Series 2022-1 class B
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| Amount: | $38 million
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| Coupon: | 6.35%
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| Rating: | Kroll: BBB-
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