--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-229595" form_type: "8-K" ticker: null cik: "0001772695" company_name: "Sunnova Energy International Inc." filed_at: "2023-09-06T23:59:59+00:00" generated_at: "2026-06-10T23:31:05.141110+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.65 calibrated_materiality_score: 0.65 confidence: "high" source: SEC EDGAR --- # Sunnova completes $242.7M solar loan securitization, amends TEPH facility to $769M, adds $65M credit line ## Summary - Issued $148.5M Class A 5.30%, $71.1M Class B 5.60%, $23.1M Class C 6.00% notes, rated AA-/A-/BBB by Kroll and Fitch. - TEPH credit facility amended: commitments increased from $700M to $769.2M, maturity extended to November 2025. - New $65M SAP9 credit facility for home improvement loans, matures October 2027, backed by Citibank. - Proceeds to finance green investments and repay existing subsidiary financing arrangements. ## SEC filing metadata - accession: 0001193125-23-229595 - form_type: 8-K - cik: 0001772695 - company_name: Sunnova Energy International Inc. - filed_at: 2023-09-06T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.65 - calibrated_materiality_score: 0.65 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1772695/000119312523229595/0001193125-23-229595-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1772695/000119312523229595/d531372d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-229595 - JSON: https://secwatch.observer/filing/0001193125-23-229595.json - Plain text: https://secwatch.observer/filing/0001193125-23-229595.txt ## Key facts - Debt Financings 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312523229595/0001193125-23-229595-index.htm - Debt Financings 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312523229595/0001193125-23-229595-index.htm - Material Agreements 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 source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312523229595/0001193125-23-229595-index.htm - Material Agreements 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 source text: 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”). evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312523229595/0001193125-23-229595-index.htm - Material Agreements 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 source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1772695/000119312523229595/0001193125-23-229595-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.