Vivint Solar closed two debt transactions totaling $545 million in incremental lender commitments, including a $245 million upsize to its revolving warehouse facility. According to an 8K, Bank of America is serving as administrative agent and collateral agent for the warehouse facility.
Vivint Solar closed a $325 million revolving warehouse facility, which refinanced the aggregation credit facility that was set to mature in 2020.
Vivint Solar closed a fixed-rate, 18-year term debt facility with four institutional investors, totaling $203 million. Wells Fargo served as administrative agent for the transaction.
Vivint Solar closed a $313 million term loan facility, arranged by Investec Bank, ING Capital, Silicon Valley Bank and SunTrust Robinson Humphrey as joint bookrunners.
SunEdison and Vivint Solar agreed to amend their merger agreement. A Blackstone-sponsored vehicle will become a key stakeholder, and committed to provide a $250 million credit facility. Goldman Sachs, Barclays, Citigroup and UBS will provide a $300 million term loan.