 Home > Chemicals Industry > International Chemical > Vivint Solar received $811 million in solar project financing

Vivint Solar received $811 million in solar project financing

 Last Update: 2022-12-27
 Source: Internet
 Author: User

Tags

concentrated solar

solar powered dehumidifier

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

Recently, US residential PV supplier Vivint Solar has secured $811 million in debt financing
for solar projects through two separate transactions.

First, the company's subsidiary, Vivint Solar Financing, issued capital markets for a total amount of $466 million
.
In addition, Vivint Solar Financing IV issued a $345 million private placement
.

The two financing transactions will be used to fully repay and reduce some of the debt financing balances of Vivint Solar and its affiliates for general corporate purposes
.

The total amount of US$811 million will also provide reverse leverage financing
for 16 tax equity funds and a subsidiary with a 575MW PV portfolio and more than 86,000 residential PV systems.

Overall, these transactions reduced Vivint Solar, Inc.
's hybrid credit spread by approximately 160 basis points
.

Vivint Solar's Chief Commercial Officer and Head of Capital Markets said: "We are pleased to announce this new milestone in the evolution of our financing strategy that optimizes and simplifies our finite maturity debt structure while enabling us to repay more expensive outstanding loans, increase lending rates, lock in attractive fixed lending rates, and create more liquidity
for businesses.
”

:/, please indicate the source for reprinting)

Recently, US residential PV supplier Vivint Solar has secured $811 million in debt financing
for solar projects through two separate transactions.

Solar projects

First, the company's subsidiary, Vivint Solar Financing, issued capital markets for a total amount of $466 million
.
In addition, Vivint Solar Financing IV issued a $345 million private placement
.

The two financing transactions will be used to fully repay and reduce some of the debt financing balances of Vivint Solar and its affiliates for general corporate purposes
.

The total amount of US$811 million will also provide reverse leverage financing
for 16 tax equity funds and a subsidiary with a 575MW PV portfolio and more than 86,000 residential PV systems.

Overall, these transactions reduced Vivint Solar, Inc.
's hybrid credit spread by approximately 160 basis points
.

:/, please indicate the source for reprinting)

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.