Sunnova Energy International (NOVA) has released an update.
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Sunnova Energy International Inc. has successfully issued a series of solar asset-backed notes totaling $226 million through its subsidiary, SOL VI Issuer, with varying interest rates and a maturity date of April 30, 2032. These notes, rated between A- and BB-, are secured by cash flows from solar projects and renewable energy credits. Aimed at institutional investors, the proceeds from this securitization will be allocated to offering expenses and general corporate purposes. Additionally, the company has made amendments to its credit agreements, reflecting commitment reassignments and adjusting certain financial thresholds. Meanwhile, Sunnova is in discussions with Executive Vice President Kris W. Hillstrand about his impending departure, with no plans to replace his position.
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