Sunrun Closes $835 Million Non-Recourse Financings To Support Continued Growth

Sunrun (Nasdaq: RUN), the nation’s leading home solar, battery storage and energy services company, closed a $600 million non-recourse syndicated bank facility supporting a 335 MW portfolio of leases and power purchase agreements (the “Senior Credit Facilities”). The Senior Credit Facilities consist of a $575 million amortizing loan (the “Senior Loan”) and a $25 million debt service reserve letter of credit (“DSR LC”). Sunrun also closed an additional non-recourse subordinated financing, which is secured by Sunrun’s retained equity interest in the underlying collateral supporting the Senior Credit Facilities. All facilities closed on December 23, 2022.