Greenbacker Renewable Energy Co LLC: debt financing — Greenbacker closes $75M warehouse facility for renewable energy projects; expandable to $250M

Greenbacker Renewable Energy Co LLC

Initial $75M credit facility; can be increased up to $250M; includes $50M sublimit for letters of credit.
Three-year revolving facility; interest at SOFR plus margin of 2.025% (first two years), then 2.275%.
Proceeds support construction/operation of solar, solar-plus-storage, and standalone storage projects.
Facility secured by equity interests in borrower and its subsidiaries; guaranteed by certain subsidiaries.
Commitment fee of 0.50% per annum on unused commitments; Wells Fargo as lead arranger.

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

Greenbacker Renewable Energy Co LLC incurred credit facility of up to $75,000,000 with Wells Fargo Bank, National Association, as administrative agent at Loans under the Credit Facility bear interest at a rate per annum equal to (i) i maturing the third anniversary of the Closing Date.

Instrument: credit facility
Principal: up to $75,000,000
Counterparty: Wells Fargo Bank, National Association, as administrative agent
Rate: Loans under the Credit Facility bear interest at a rate per annum equal to (i) i
Maturity: the third anniversary of the Closing Date
Event: incurrence

Exact text from the filing

as sustainability structuring agent, and Wilmington Trust, National Association serves as collateral agent. The Credit Agreement provides for aggregate commitments of up to $75,000,000, as may be increased up to $250,000,000, for secured revolving loans and letter of credit issuances (the “Credit Facility”). The proceeds of the Credit Facility are intended to be

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Source: SEC EDGAR

accession 0001753926-23-001080

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