debt
confidence high
sentiment neutral
materiality 0.50
Ameresco closes $100M second lien term loan with Nuveen, repays existing debt
Ameresco, Inc.
- $100M second lien term loan closed with Nuveen; net proceeds ~$97.1M.
- Proceeds used to repay Delayed Draw Term Loan A and reduce revolver (leverage-neutral).
- Interest rate at closing: 11.21% (3M SOFR + 5.875%); maturity June 28, 2029.
- Sixth amendment to Senior Secured Credit Agreement permits the new debt.
- CFO cites competitive rate and long tenor to support growth and acquisitions.