Deal Description: Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential solar and energy storage service provider, announced today the closing of its eighth solar loan securitization and its fourteenth residential solar securitization.
The securitization includes $103.4 million in AA- sf/AA- (sf) rated 5.30% notes, $80.6 million in Asf/A- (sf) rated 5.60% notes, and $51.7 million in BBB-sf/BBB- (sf) rated 6.00% notes with an Anticipated Repayment Date of November 22, 2027, and a final maturity of November 22, 2049.
The notes are backed by a diverse portfolio of 8,870 solar rooftop systems distributed across more than 21 states and territories.
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); Frank Schoen (Partner, New York); Thomas Blackwell (Associate, Houston); Brendan LeMay (Associate, New York); Luis Pacheco Garcia (Associate, Houston); Eleana Kartali (Law Clerk, New York); Jonathan Rasmusson (Law Clerk, San Francisco); Jonathan Walker (Law Clerk, Houston)
Tax: Michael Bresson (Partner, Houston); Peter Farrell (Special Counsel, Washington)
ERISA: Gail Stewart (Partner, Houston); Gabriela Alvarez (Associate, Houston)
Renewable Energy/Regulatory: Emil Barth (Partner, Washington)
Advisory: Danny David (Partner, Houston)
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