Vivint Solar, the US residential solar system provider, has secured $303m in new financing from five different investors to repay existing borrowing and install a large tranche of new solar systems. The financing is split into a $203m, fixed-rate, 18-year debt to be repaid using the contractual cash flows from four existing investment funds, and $100m follow-on investment in tax equity financing. Both of the transactions have been closed with Bank of America Merrill Lynch. In addition, Vivint’s board approved an agreement with its largest investor, SunPower, for $200m more than it had originally planned on funding over 18 years.
Vivint Solar, the US residential solar system provider, has secured $303m in new financing from five different investors to repay existing borrowing and install a large tranche of new solar systems. The financing is split into a $203m, fixed-rate, 18-year debt to be repaid using the contractual cash flows from four existing investment funds, and $100m follow-on investment in tax equity financing. In addition, Vivint’s board approved an agreement with its largest investor, SunPower, for $200m more than it had originally planned on funding over 18 years.