secwatch.observer — SEC 8-K summary
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Issuer:     Ameresco, Inc. (AMRC)
CIK:        0001488139
Form:       8-K
Filed at:   2023-12-12T23:59:59+00:00
Accession:  0001488139-23-000185
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ameresco amends credit facility; extends delayed draw term loan to Apr 2024, adds $100M financing covenant
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- Amendment extends $65M delayed draw term loan A maturity to Apr 15, 2024 with $10M repayments on Jan 31, Feb 29, Mar 31, 2024.
- If SCE BESS project not substantially complete by Jan 31, 2024, Ameresco must use best efforts to raise $100M equity or sub-debt by Apr 15, 2024.
- Total Funded Debt to EBITDA covenant tightened: max 3.75x at Dec 31, 2023; 3.50x thereafter.
- At closing, Ameresco paid $25M of term loan principal and a 0.25% fee to term lenders.
- Covenant falls away if term loan repaid and liquidity ≥$75M by Feb 29, 2024; company expects SCE project completion within next month.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1488139/000148813923000185/0001488139-23-000185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1488139/000148813923000185/amrc-20231211.htm
  HTML page:      https://secwatch.observer/filing/0001488139-23-000185

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