Vivint Solar closes USD $811 million of new securitization financing

U.S. full-service residential solar provider announces closing and funding of its first securitization

Vivint Solar, Inc. is an American solar energy company.

U.S. solar installer, Vivint Solar, has announced the closing and funding of $811 million aggregate principal amount of debt financing comprised of two separate transactions.

The proceeds from these financings will be used to repay in full or reduce the outstanding balance of, certain existing debt facilities of Vivint Solar, and its subsidiaries and for general corporate purposes.

Via these transactions, Vivint Solar aims to lower its blended total credit spreads by approximately 160 basis points.

On a combined basis the financings provide back-leverage financing for a portfolio of 16 tax equity funds and one wholly owned subsidiary that own 575 megawatts and over 86,000 residential solar energy systems.

Founded in 2011 as an offshoot of Vivint, Vivint Solar went public in 2014. Vivint Solar is publicly traded on the New York Stock Exchange.

Interested in solar? Get a solar cost estimate and find out how much a solar system would cost for your home or business.
Follow us: @pvbuzzmedia on Twitter | pvbuzz media on Facebook

More Stories From Around the Web:

What to Read Next:

4 tips for installing solar photovoltaic panels on a new construction

Incorporating solar energy into your house plans will help boost the output of the array and therefore increase your return...

Transitioning fossil fuel workers to the solar power workforce

As the world transitions towards a clean energy future, there will be a great need to address the challenges of...

Tripling the Energy Storage of Lithium-Ion Batteries

As the demand for smartphones, electric vehicles, and renewable energy continues to rise, scientists are searching for ways to improve...

Silicon-perovskite solar cells achieve record efficiency of 25,2%

In the field of photovoltaic technologies, silicon-based solar cells make up 90% of the market. In terms of cost, stability...

Hold that thought. Energy storage is growing on Ontario’s electric grid

A recent tour of Canada’s biggest battery allowed participants to get up close to an 8.8MW/40MWh lithium-ion array housed in...

Leave a Reply

Your email address will not be published. Required fields are marked *