Sunnova Completes $500 Million Convertible Notes Offering

Technology & Services
Energy

Sunnova convertible notes offering


Summary

Sunnova Energy International Inc. (“Sunnova” or the “Company”) (NYSE: NOVA) recently completed an offering of $500 million aggregate principal amount of 0.25% Convertible Senior Notes due 2026. Sunnova also granted the initial purchasers of the notes the option to purchase up to an additional $75 million aggregate principal amount of the notes within a 13-day period beginning on, and including, the date on which the notes are first issued. The Company intends to use the net proceeds to pay the cost of capped call transactions, repay outstanding debt, for other general corporate purposes, and to finance Eligible Green Projects.

Baird served as a co-manager on this offering.

About

Sunnova is a leading residential solar and energy storage service provider, serving more than 91,000 customers in more than 20 United States (“U.S.”) states and territories. The Company’s goal is to be the leading provider of clean, affordable and reliable energy for consumers, and we operate with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted. Sunnova was founded to deliver customers a better energy service at a better price. Through the Company’s solar and solar plus energy storage service offerings, they are disrupting the traditional energy landscape and the way the 21st century customer generates and consumes electricity. Sunnova is headquartered in Houston, Texas.
CONTACT US TO LEARN MORE
Technology & Services
Energy

Sunnova convertible notes offering

Date
May 2021
Company
Sunnova Energy International Inc.
Transaction
Equity Capital Markets
Sectors
Technology & Services
Energy
Verticals
Energy
Facility, Industrial, Rental & Environmental ("FIRE") Services
Target Location
North America

Share