Sunrun Poseidon

Overview

Deal Type Debt Capital Markets
Size $600 Million
Senior Secured Credit Facilities
Client & Transactional Partners Sunrun
Our Role Coordinating Lead Arranger
Administrative Agent

Summary

On December 23, 2022, KeyBanc Capital Markets (KBCM) successfully closed $600 million of Senior Secured Credit Facilities (the Facilities) for Sunrun. The Facilities comprised a $575 million Delayed Draw Term Loan and a $25 million Letter of Credit. Proceeds were used to recapitalize a portfolio of residential solar assets (the Portfolio) for Sunrun. KBCM acted as Coordinating Lead Arranger and Administrative Agent on the transaction.

The Portfolio comprises approximately 49,000 residential solar Leases and Power Purchase Agreements (collectively “Customer Agreements”) totaling 343 MW-dc of generating capacity across 22 U.S. states and Puerto Rico. Cash flows are generated under these long-term Customer Agreements with 22 years of weighted-average contract life remaining, plus payments from performance-based incentive programs in Connecticut, Massachusetts, and New Jersey.

Recent Deals

January 2023

a portfolio company of

has been acquired by

Exclusive Sell-Side Advisor

hasa-inc
December 2022

has sold a 143 MW portfolio of distributed C&I solar assets to

 

Exclusive Sell-Side Advisor

longroad-energy-edp
December 2022

Poseidon

$600 Million

Senior Secured Credit Facilities

Coordinating Lead Arranger
Administrative Agent

sunrun-poseidon
December 2022

a portfolio company of

has been acquired by

 

$1 Billion

Sell-Side Advisor

scout-clean-energy
December 2022

amplify energy 

$1 Billion

Senior Secured Credit Facility

Administrative Agent

amplify-energy-corp
December 2022

Woodcreek

$32.16 Million

Acquisition

woodcreek
December 2022

 

Casa Del Mar

$53.24 Million

Refinance

casa-del-mar
November 2022

 

$700 Million

Senior Secured Credit Facilities

Left Lead Arranger
Joint Bookrunner
Administrative Agent

sterling-infosystems-inc
November 2022

Terra 

$1 Billion

Senior Secured Credit Facility

Joint Lead Arranger
Co-Syndication Agent

terra-energy-partners-llc
November 2022

 

$43.3MM

CDLI Loan and LIHTC

river-oaks
November 2022

 

$100 million

Senior Secured Credit Facility

Lead Arranger
Bookrunner
Administrative Agent

seneca-gaming-corporation
November 2022

has divested of a 14.2 MW community solar portfolio in Illinois to

Sell-Side Advisor

cenergy-power

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