Sunnova sells $255 million asset-backed notes, $360 million facilities

By Angela McDaniels

Tacoma, Wash., April 24 – Sunnova Energy Corp. closed a $615 million round of funding, according to a company news release.

A subsidiary, Helios Issuer, LLC, sold $255 million of asset-backed notes in a private placement. Credit Suisse Securities (USA) LLC acted as the structuring agent and the bookrunner.

The deal also includes two warehouse credit facilities in an aggregate principal amount of $360 million.

This financing round represents Sunnova’s first asset-backed notes securitization.

Sunnova said it has now raised $695 million over the past two months and more than $2 billion in the past four years, including tax equity, debt and corporate equity, from private equity firms, institutional investors and major Wall Street banks.

Houston-based Sunnova offers rooftop solar service to homeowners.

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