secwatch.observer — SEC 8-K summary
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Issuer:     Avangrid, Inc. (—)
CIK:        0001634997
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001193125-23-265136
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Avangrid subsidiary closes $1.2B tax equity financing for Vineyard Wind 1; parent guaranty up to $725M
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- Tax equity financing of ~$1.2B with J.P. Morgan Chase, Bank of America, Wells Fargo closed Oct 24, 2023.
- Avangrid issued a parent guaranty for Tax Equity Investors, max guaranteed amount ~$725M.
- Existing Lender Guaranty amended to increase max guaranteed amount to ~$887M.
- First funding under tax equity financing expected in Q4 2023.
- Vineyard Wind 1 is an 800-MW offshore wind project off Martha's Vineyard, Massachusetts.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1634997/000119312523265136/0001193125-23-265136-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1634997/000119312523265136/d550701d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-265136

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