Sunnova Energy International (NOVA) has provided an update.
Sunnova Energy International Inc. has successfully completed a significant securitization deal involving solar assets through its subsidiary, SOL VII Issuer, issuing over $320 million in solar asset-backed notes with repayment anticipated by August 2033. These notes, which are secured by cash flows from solar project companies and renewable energy credits, were sold to qualified institutional buyers and are not registered under the Securities Act, implying they cannot be freely traded in the U.S. without exemption or registration. Kroll Bond Rating Agency has rated the notes, reflecting their investment-grade status. The funds raised will be utilized for offering-related expenses and general corporate purposes.
For a thorough assessment of NOVA stock, go to TipRanks’ Stock Analysis page.
