Sunrun closes $425M recourse lending facility, replacing $250M facility with enhanced terms

Sunrun Inc.

New $425M facility refinances $250M existing facility; ~$211M outstanding repaid.
Enhanced terms: 5% discount rate for operating assets, higher advance rates on project backlog and inventory.
Maturity extended to January 2025, longer than prior 2-year extension.
Borrowing cost unchanged; facility has accordion feature to upsize to $600M.
Initial commitments from nine lenders; CFO cites improved capital market execution.

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