Sunnova Hestia I Issuer — residential solar securitization with partial DOE guarantee backing
Second series of Hestia notes partially guaranteed by DOE. Won IFR's North America ABS Issue of the Year Award.
$244M
Deal Value
Solar
Technology
Multi-state
Location
Deal Details
- Deal Type
- Corporate Debt & Capital Markets
- Seller / Sponsor
- Sunnova Energy
- Deal Value
- $244M
- Stage
- Operating
- ISO/RTO
- Multiple
- Source
- Baker Botts
Capital Structure
$244M
Total transaction value
Tranches
- Senior solar loan-backed notes (Class A), rated AAA(sf)/AA+(sf), 5.75% coupon, Series 2023-GRID1
- $220M
- Subordinate solar loan-backed notes (Class B), rated BB(sf), 8.25% coupon, Series 2023-GRID1
- $24M
Service Providers
Advisory & Legal
- borrowerCounsel
- Baker Botts
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Leadership at the Counterparties
Recent executive moves at the firms named in this deal.
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