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

July 2025

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$1.815 Billion

Senior Secured Credit Facilities

$900 Million

8.50% First Lien Secured Notes due 2032

Joint Lead Arranger
Joint Bookrunner

radiology-partners
June 2025

wwmg

formed and capitalized a joint venture with

iks health

Financial Advisor

western-washington-medical-group
June 2025

 

El Camino Commons

$74.8 Million

Construction Loan & LIHTC Equity

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June 2025

tule silverback

$350 Million

Senior Secured Credit Facilities

Left Lead Arranger
Joint Bookrunner
Administrative Agent

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