secwatch.observer — SEC 8-K summary
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Issuer:     SPRUCE POWER HOLDING CORP (SPRU)
CIK:        0001772720
Form:       8-K
Filed at:   2024-07-01T23:59:59+00:00
Accession:  0001628280-24-030550
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spruce Power closes $130M non-recourse debt facility refinancing SP4 loan
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- Credit Agreement with Barings for $130M at 6.889%, maturing April 2042; Anticipated Repayment Date Dec 2027.
- Refinances $125M SP4 Facility; net injection of over $6M after fees and swap termination.
- Collateral includes cash flows from >22,000 solar contracts, 69% advance rate; facility rated A+ by Kroll.
- Majority of PPAs variable-rate indexed to California retail electric rates; expects continued strong performance.
- Quarterly interest payments begin August 2024; borrower is wholly owned subsidiary Spruce SET Borrower 2024, LLC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1772720/000162828024030550/0001628280-24-030550-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1772720/000162828024030550/spru-20240701.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-030550

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