Sunnova Energy Corporation’s $255 Million asset-backed notes Offering


Baker Botts Represents Sunnova Energy Corporation in Solar Asset-Backed Notes and Warehouse Credit Facilities. Kramer Levin acted as counsel to Credit Suisse Securities (USA) LLC in the private placement; Chapman and Cutler LLP acted as counsel to Credit Suisse Securities (USA) LLC for the warehouse facilities.

Sunnova Energy Corporation announced today the closing of a private placement by its subsidiary, Helios Issuer, LLC, of approximately $255 million aggregate principal amount of asset-backed notes and two warehouse credit facilities in an aggregate principal amount of $360 million. The notes financing represents Sunnova’s first asset-backed notes securitization and the largest distributed generation lease/PPA solar securitization issued into the ABS capital markets to date.

Credit Suisse Securities (USA) LLC acted as sole structuring agent and sole bookrunner for the asset-backed notes securitization.

Baker Botts represented Sunnova Energy Corporation in the transaction with a team including Josh Davidson (Picture), Travis Wofford, Sarah Dodson, Jennifer Gasser, Ruchira Podali (Capital Market), Martin Toulouse (Partner, New York); Emanuel Grillo, William Stutts, Jon Finelli, Peter Glenn, Whitney Blazek, Josh Espinosa (Banking & Fianance), Michael Bresson, Renn Neilson, Jon Nelsen, David Morris and Bucky Brannen (Tax).

Involved fees earner: Joshua Davidson – Baker Botts; Travis Wofford – Baker Botts; Sarah Dodson – Baker Botts; Jennifer Gasser – Baker Botts; Ruchira Podali – Baker Botts; Martin Toulouse – Baker Botts; Emanuel Grillo – Baker Botts; William Stutts – Baker Botts; Jon Finelli – Baker Botts; Peter Glenn – Baker Botts; Whitney Blazek – Baker Botts; Josh Espinosa – Baker Botts; Michael Bresson – Baker Botts; Renn Neilson – Baker Botts; Jon Nelsen – Baker Botts; David Morris – Baker Botts; Bucky Brannen – Baker Botts;

Law Firms: Baker Botts;

Clients: Sunnova Energy Corporation;

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Author: Ambrogio Visconti