Deal Description: Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential solar and energy storage service provider, announced today the pricing of its fourth solar loan securitization and its tenth residential solar securitization.
The securitization includes $106.2 million in AA- (sf) rated 1.62% notes and $106.2 million in A- (sf) rated 2.01% notes with an Anticipated Repayment Date of July 20, 2028 and a final maturity of July 20, 2048.
The notes are backed by a diverse portfolio of 6,435 solar rooftop systems distributed across 19 states and territories. The transaction is expected to close by July 28, 2021, subject to customary closing conditions.
Baker Botts L.L.P. represented Sunnova in the transaction.
For more information, please see Sunnova’s news release by clicking here.
Baker Botts Lawyers/Office Involved:
- Corporate/Finance: Travis Wofford (Partner, Houston); Martin Toulouse (Partner, New York); Josh Espinosa (Associate, Dallas); Catherine Ellis (Associate, Houston); Malakeh Hijazi (Associate, Houston); Daniel Jung (Associate, Houston); Christopher Carreon (Associate, Houston)
- Tax: Michael Bresson (Partner, Houston); David Morris (Special Counsel, Palo Alto); Snow Xue Rui (Associate, Dallas)
- ERISA: Krisa Benskin (Special Counsel, Houston)
- Renewable Energy/Regulatory: Emil Barth (Partner, Washington)
- Advisory Counsel: Emanuel Grillo (Partner, New York); Danny David (Partner, Houston)
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