Sunnova Prices First Project Hestia Securitization Of Residential Solar And Battery Systems; The Securitization Consists Of $219.6M In Indicatively Rated AAA (sf)/AA+(sf) 5.75% Notes And $24.4M In Indicatively Rated BB (sf) 8.25% Notes
Portfolio Pulse from Happy Mohamed
Sunnova Energy International Inc. has announced the pricing of its Hestia I securitization, which benefits from a partial guarantee provided by the U.S. Department of Energy (DOE) Loan Programs Office. The securitization consists of $219.6 million in indicatively rated AAA (sf)/AA+(sf) 5.75% notes and $24.4 million in indicatively rated BB (sf) 8.25% notes. The notes are backed by a diverse portfolio of rooftop solar systems, battery storage systems, and combined rooftop plus storage systems distributed across more than 20 states and territories. The transaction is expected to close by November 8, 2023.
October 19, 2023 | 8:15 pm
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Sunnova's Hestia I securitization, backed by DOE partial guarantee, could attract new investors and strengthen its financial position.
The successful pricing of the Hestia I securitization, backed by a diverse portfolio of solar and battery systems, could attract new investors to Sunnova. This, along with the partial guarantee from the DOE, could strengthen Sunnova's financial position and potentially have a positive impact on its stock price in the short term.
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