Sunnova Energy International Inc.: going-concern / distress — Sunnova Energy files Chapter 11 bankruptcy; expects NYSE delisting

Sunnova Energy International Inc.

Filed voluntary Chapter 11 petitions on June 8, 2025, in Southern District of Texas.
Debtors include Sunnova Energy Corp. and Sunnova Intermediate Holdings; cases to be jointly administered.
Filing triggers acceleration of obligations under multiple indentures and warehouse credit agreements.
Company expects NYSE delisting notice and will not appeal; common stock likely to be delisted.
Cleansing Materials project $11.6B total unlevered free cash flows from ABS transactions through 2049.

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

Sunnova Energy International Inc. reported a default on credit facility with Wilmington Trust, National Association, as Trustee; ASPA, as administrative agent.

Instrument: credit facility
Counterparty: Wilmington Trust, National Association, as Trustee; ASPA, as administrative agent
Event: default

Exact text from the filing

The filing of the Chapter 11 Cases constitutes an event of default that automatically accelerated and, as applicable, increased certain obligations under the following debt instruments

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Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Sunnova Energy International Inc. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2025-06-08).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Southern District of Texas
Petition: 2025-06-08

Exact text from the filing

Voluntary Petition for Bankruptcy On June 8, 2025 (the “Petition Date”), Sunnova Energy International Inc.’s (the “Company”), Sunnova Energy Corporation (“SEC”) and Sunnova Intermediate Holdings, LLC (together with the Company and SEC, the “Debtors”) each filed voluntary petitions for relief (the “Chapter 11 Cases”) under chapter 11 (“Chapter 11”) of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).

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41 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001772695-25-000105

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