Vivint Solar closes $360 million financing arrangement
Post date: 05/06/2019 - 13:40
U.S. PV distributor and installer Vivint Solar Inc. closed a multi-party forward flow funding arrangement that includes project-level debt, a levered tax equity partnership, and a cash equity investment. The transaction provides up to $360 million in total funding commitments. It is structured to generate upfront cash margin for the company for approximately 95 to 100 MW of future solar energy systems. Bank of America Merrill Lynch acted as sole structuring and placement agent for the cash equity and multi-draw term loan as well as the sole tax equity investor. Hannon Armstrong participated as the structured cash equity investor.