The 5-year syndicated credit facility provides back-leverage financing for a portfolio of 12 tax equity funds that own more than 307MW and 47,000 residential solar energy systems across 12 states. It provides an alternative to bond securitization.
Thomas Plagemann, head of capital markets at Vivint, says the funding will allow it to “repay outstanding loans under its aggregation facility, increase advance rates, free up new borrowing capacity, raise incremental debt against SREC contracts and lock in attractive all-in borrowing rates.”
Arranging
