- Press Releases
August 11 (Renewables Now) - US residential solar and battery storage company Sunnova Energy International Inc (NYSE:NOVA) on Tuesday priced its previously announced green bond offering and upsized it to USD 400 million (EUR 361m).
The company has priced the 5.875% senior notes due 2026 at 98.76% of par. Initially, it planned a private placement of notes with an aggregate principal amount of USD 350 million.
As announced last week, Sunnova Energy Corporation (SEC) will offer to qualified institutional buyers senior unsecured obligations that are guaranteed on a senior unsecured basis by Sunnova and Sunnova Intermediate Holdings LLC.
The notes will bear interest from August 17, 2021, at an annual rate of 5.875% payable on March 1 and September 1 of each year, starting on March 1, 2022. They will mature on September 1, 2026.
The company said its subsidiary will use the net proceeds from the offering to fund or refinance existing or new eligible green projects, as described in its recently launched new green financing framework.
(USD 1.0 = EUR 0.852)