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 tenth solar loan securitization and its sixteenth residential solar securitization.
The securitization includes $148.5 million in AA-sf/AA- (sf) rated 5.30% notes, $71.1 million in A-sf/A- (sf) rated 5.60% notes, and $23.1 million in BBBsf/BBB (sf) rated 6.00% notes with an Anticipated Repayment Date of August 21, 2028, and a final maturity of August 22, 2050.
The notes are backed by a diverse portfolio of 6,945 solar rooftop systems distributed across more than 16 states and territories.
Baker Botts L.L.P. represented Sunnova in the transaction.
For more information, please see Sunnova’s 8-K filing by clicking here.
Baker Botts Lawyers/Office Involved:
Corporate/Finance: Travis Wofford (Partner, Houston); Frank Schoen (Partner, New York); Jonathan Goldstein (Partner, New York); Lyman Paden (Senior Counsel, Houston); Thomas Blackwell (Associate, Houston); Johnathan Walker (Associate, Houston); Sarah Dyer (Associate, Houston); Erica Hudson (Associate; New York); Eleana Kartali (Law Clerk, New York); Peter Frintzilas (Law Clerk; New York)
Tax: Michael Bresson (Partner, Houston); Peter Farrell (Special Counsel, Washington); Chuck Campbell (Special Counsel, Houston)
Renewable Energy/Regulatory: Emil Barth (Partner, Washington)
Advisory: Danny David (Partner, Houston)
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