secwatch / observer
8-K filed September 6, 2023, 7:59 PM ET CIK 0001772695
debt confidence high sentiment neutral materiality 0.65

Sunnova Energy International Inc.: debt financing — Sunnova completes $242.7M solar loan securitization, amends TEPH facility to $769M, adds $65M credit line

Sunnova Energy International Inc.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Sunnova Energy International Inc. incurred senior notes of $148,500,000 aggregate principal amount of 5.30% Solar Loan Backed Notes, Series 2023-B Class A, $71,100,000 aggregate p with Wilmington Trust, National Association at 5.30%, 5.60%, 6.00% maturing August 21, 2028.

Instrument
senior notes
Principal
$148,500,000 aggregate principal amount of 5.30% Solar Loan Backed Notes, Series 2023-B Class A, $71,100,000 aggregate p
Counterparty
Wilmington Trust, National Association
Rate
5.30%, 5.60%, 6.00%
Maturity
August 21, 2028
Event
incurrence
Exact text from the filing
On August 30, 2023, a wholly owned, indirect subsidiary (the “Issuer”) of Sunnova Energy International Inc., a Delaware corporation (the “Company”), entered into an indenture (the “Indenture”) with Wilmington Trust, National Association, as the indenture trustee, and completed an issuance of solar loan backed notes
View on SEC.gov
Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Sunnova Energy International Inc. amended credit facility of increase the aggregate commitments from $700 million to approximately $769.2 million with Atlas Securitized Products Holdings, L.P. maturing November 2025.

Instrument
credit facility
Principal
increase the aggregate commitments from $700 million to approximately $769.2 million
Counterparty
Atlas Securitized Products Holdings, L.P.
Maturity
November 2025
Event
amendment
Exact text from the filing
lenders and other financial institutions party thereto. The TEPH Amendment amended the TEPH Credit Agreement to, among other things, (i) increase the aggregate commitments from $700 million to approximately $769.2 million, (ii) increase the uncommitted maximum facility amount from approximately $789.7 million to $859.0 million, (iii) extend the maturity date to
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Sunnova Energy International Inc. amended Tenth Amendment to Amended and Restated Credit Agreement with Atlas Securitized Products Holdings, L.P. valued at increase the aggregate commitments from $700 million to approximately $769.2 million (effective 2023-08-31).

Action
amendment
Agreement
credit facility
Counterparty
Atlas Securitized Products Holdings, L.P.
Value
increase the aggregate commitments from $700 million to approximately $769.2 million
Effective
2023-08-31
Exact text from the filing
On August 31, 2023, a wholly owned subsidiary (the “TEPH Borrower”) of the Company, entered into that certain Tenth Amendment to Amended and Restated Credit Agreement (the “TEPH Amendment”), which, among other things, further amends that certain Amended and Restated Credit Agreement, dated as of March 29, 2021 (as previously amended, the “TEPH Credit Agreement”), by and among the TEPH Borrower, Sunnova TE Management, LLC, as facility administrator, Atlas Securitized Products Holdings, L.P., as administrative agent, and the lenders and other financial institutions party thereto.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Sunnova Energy International Inc. entered into Indenture with Wilmington Trust, National Association valued at $148,500,000 aggregate principal amount of 5.30% Solar Loan Backed Notes, Series 2023-B Class A, $71 (effective 2023-08-30).

Action
entry
Agreement
notes offering
Counterparty
Wilmington Trust, National Association
Value
$148,500,000 aggregate principal amount of 5.30% Solar Loan Backed Notes, Series 2023-B Class A, $71
Effective
2023-08-30
Exact text from the filing
On August 30, 2023, a wholly owned, indirect subsidiary (the “Issuer”) of Sunnova Energy International Inc., a Delaware corporation (the “Company”), entered into an indenture (the “Indenture”) with Wilmington Trust, National Association, as the indenture trustee, and completed an issuance of solar loan backed notes that were issued pursuant to the Indenture (the “Transaction”).
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sunnova Energy International Inc. entered into Credit Agreement with Citibank, N.A. valued at $65 mi (effective 2023-09-05).

Action
entry
Agreement
credit facility
Counterparty
Citibank, N.A.
Value
$65 mi
Effective
2023-09-05
Exact text from the filing
On September 5, 2023, Sunnova Asset Portfolio 9, LLC (“SAP9”), a wholly owned subsidiary of the Company, entered into that certain Credit Agreement (the “SAP9 Credit Agreement”), by and among SAP9, as borrower, Sunnova SLA Management, LLC, as manager and as servicer, Sunnova Asset Portfolio 9 Holdings, LLC (“SAP9H”), as seller, Citibank, N.A. (“Citibank”), as administrative agent, and the lenders and other financial institutions party thereto.
View on SEC.gov

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Source: SEC EDGAR
accession 0001193125-23-229595
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