Altus Power confirms no exposure to SVB, Signature Bank or First Republic Bank

The company states: " Altus Powe (AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, updated stakeholders that it has no exposure to Silicon Valley Bank (SIVB), Signature Bank (SBNY) or First Republic Bank (FRC) or their affiliates. Altus Power holds its cash and equivalents, and marketable securities at other institutions and the Company is not party to any financing agreement with any of these institutions or their affiliates. As recently disclosed, Altus Power’s undrawn financing commitments under its revolving credit facility are provided by a diverse syndicate of large financial institutions including Citibank, Bank of America, JP Morgan Chase Bank, KeyBank National Association and Truist Securities, Inc. The Company has fully funded financing facilities with KeyBank and Huntington National Bank associated with the DESRI acquisition. Blackstone Structured Finance Group has provided the Company with investment grade term loan facilities, which are funded by Blackstone on behalf of its insurance franchise. Altus Power will continue to monitor the broader financial landscape, including the impacts on any third parties with which the Company conducts business, but currently anticipates uninterrupted access to capital to fund its ongoing operations and capital expenditures."