BrightNight, a renewable power producer, secured a $375 million corporate credit facility. ING, Natixis CIB and SMBC are the coordinating lead arrangers and green loan coordinators on the transaction. HSBC is a joint lead arranger and administrative agent.
The corporate credit facility will provide BrightNight with the necessary capital to execute on its U.S. project portfolio, which includes solar, energy storage and integrated technologies providing renewable power solutions for its customers. This funding specifically will support equipment deposits, letters of credit and project buildout. The credit facility is structured as a green loan in alignment with green loan principles.
“We are extremely pleased to announce the successful raise of this $375 million credit facility, a first for BrightNight,” Martin Hermann, CEO of BrightNight, said. “This funding is more than just capital; it represents an important step in BrightNight’s growth. It enables us to accelerate our projects, procure equipment at attractive terms, and deliver clean renewable power for our customers.”
Latham and Watkins and PEI represented BrightNight in the transaction. Norton Rose Fulbright served as the lender counsel.
“I want to thank our supporting banks and advisors for their hard work and support in closing this facility,” Brian Boland, CFO of BrightNight, said. “The quality of the bank group and final terms are a testament to the strength of our portfolio and differentiated approach to the development of renewable power projects.”
