Ameresco, Inc. (AMRC): debt financing — Ameresco subsidiary upsizes RNG credit facility to $500M, extends maturity to 2039

Ameresco, Inc.

RNG Holdings amended loan with Hannon Armstrong affiliate; prior facility had $215M outstanding.
New Restated RNG Credit Facility: available borrowings increased to $500M, maturity extended to August 31, 2039.
At closing, subsidiary drew $135.5M to pay costs, reimburse project costs, and fund reserve accounts.
Loan bears interest at 6.70% with residual cash flows until lender achieves 8.51% IRR or facility discharge (August 31, 2049).
Prepayment allowed after August 30, 2027 with premiums: 102% (2027–2029), 101% (2029–2031), none after August 30, 2031.

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

Ameresco, Inc. amended credit facility of $500 million with HA RNG Lender LLC, an affiliate of Hannon Armstrong Sustainable Infrastructure Capital, Inc. at 6.70% maturing August 31, 2039.

Instrument: credit facility
Principal: $500 million
Counterparty: HA RNG Lender LLC, an affiliate of Hannon Armstrong Sustainable Infrastructure Capital, Inc.
Rate: 6.70%
Maturity: August 31, 2039
Event: amendment

Exact text from the filing

The Restated RNG Credit Facility extended the loan maturity date from October 26, 2037 to August 31, 2039, increased the available borrowings under the loan agreement to $500 million, continued existing loans to project companies, added certain renewable natural gas project companies to t he loan portfolio and provided that additional wholly and majority

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Ameresco, Inc. filing history →

Source: SEC EDGAR

accession 0001488139-23-000164

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