Sunnova Energy International Inc.’s Securitization of Residential Solar Loan Agreements


Baker Botts L.L.P. represented Sunnova in this transaction and each of Sunnova’s prior securitizations.

Sunnova Energy International Inc. NYSE: NOVA), a leading U.S. residential solar and energy storage service provider, announced it has closed its second solar-loan securitization and sixth residential solar securitization overall.

The two-tranche securitization includes $135.85 million in A- (sf) rated 2.98% notes and $22.64 million in subordinated BB- (sf) rated 7.25% notes. The notes are backed by a diverse portfolio of over 5,000 solar loans distributed across 17 states and territories including Puerto Rico and the Commonwealth of the Northern Mariana Islands.

Credit Suisse was the sole structuring agent and bookrunner for the securitization.

Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider, with customers across the U.S. and its territories.

The Baker Botts team was led by Travis Wofford (Picture), and included Martin Toulouse, Sarah Dodson, Jennifer Gasser, Josh Espinosa, Gita Pathak, Catherine Ellis, Michael Bresson, Renn Neilson, Jon Nelsen, David Morris, Bucky Brannen, Dominick Constantino, Krisa Benskin, Emil Barth, Emanuel Grillo and Danny David.

Involved fees earner: Catherine Baker Ellis – Baker Botts; Emil Barth – Baker Botts; Krisa Benskin – Baker Botts; Bucky Brannen – Baker Botts; Michael Bresson – Baker Botts; Dominick Constantino – Baker Botts; Danny David – Baker Botts; Sarah Dodson – Baker Botts; Josh Espinosa – Baker Botts; Jennifer Gasser – Baker Botts; Emanuel Grillo – Baker Botts; David Morris – Baker Botts; Renn Neilson – Baker Botts; Jon Nelsen – Baker Botts; Gita Pathak – Baker Botts; Martin Toulouse – Baker Botts; Travis Wofford – Baker Botts;

Law Firms: Baker Botts;

Clients: Sunnova Energy International Inc;

Author: Ambrogio Visconti