Sunrun closes USD-425m recourse lending facility

January 28 (Renewables Now) – Sunrun Inc (NASDAQ:RUN), a US supplier of dwelling photo voltaic panels and batteries, stated that it has organized a USD-425-million (EUR 381.2m) recourse lending facility, securing higher phrases to make sure development of its enterprise.

The brand new facility changed the prior USD-250-million recourse lending facility, which was retired and repaid. The tenor is now longer — the brand new facility matures in January 2025 — and the phrases are improved, Sunrun stated. Prices of the borrowing remained unchanged.

The upsized facility included commitments from three new and 6 present lenders. It additionally accommodates an accordion function, permitting growth of the power to accommodate the expansion of the enterprise over time, topic to sure circumstances and extra capital commitments, the agency added.

(USD 1.0 = EUR 0.898)


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