Sunnova Announces Proposed Private Offering of $400 Million “Green Bond”
September 20 2023 - 6:27AM
Business Wire
Sunnova Energy Corporation (“SEC”), a wholly-owned subsidiary of
Sunnova Energy International Inc. (“Sunnova”), today announced that
it intends to offer, subject to market conditions, $400 million
aggregate principal amount of green senior notes due 2028 (the
“notes”) in a private placement to qualified institutional buyers
under Rule 144A of the Securities Act of 1933, as amended (the
“Securities Act”) and to non-U.S. persons outside of the United
States in reliance on Regulation S under the Securities Act.
The notes will be senior unsecured obligations of SEC, and
interest will be payable semiannually in arrears. The notes will be
guaranteed on a senior unsecured basis by Sunnova and Sunnova
Intermediate Holdings, LLC.
SEC intends to allocate an amount equal to the net proceeds from
the offering to finance or refinance, in whole or in part, existing
or new eligible green projects, and pending such use, SEC will
maintain or apply the net proceeds in accordance with its normal
liquidity practices.
The notes have not been and will not be registered under the
Securities Act or any state securities laws and, unless so
registered, may not be offered or sold in the United States absent
registration or an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and other applicable securities laws.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any securities, nor shall it
constitute an offer, solicitation or sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking
statements generally relate to future events or Sunnova’s future
financial or operating performance. In some cases, you can identify
forward-looking statements because they contain words such as
“may,” “will,” “should,” “expects,” “plans,” “anticipates,” “going
to,” “could,” “intends,” “target,” “projects,” “contemplates,”
“believes,” “estimates,” “predicts,” “potential” or “continue” or
the negative of these words or other similar terms or expressions
that concern Sunnova’s expectations, strategy, priorities, plans or
intentions. Forward-looking statements in this press release
include, but are not limited to, statements regarding the
expectations in connection with the offering, the size and terms of
the offering and the use of proceeds from the offering. Sunnova’s
expectations and beliefs regarding these matters may not
materialize, and actual results in future periods are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected, including supply chain
uncertainties, results of operations and financial position,
Sunnova’s competition, changes in regulations applicable to
Sunnova’s business, fluctuations in the solar and home-building
markets, availability of capital and Sunnova’s ability to attract
and retain dealers and customers and manage its dealer and
strategic partner relationships. The forward-looking statements
contained in this press release are also subject to other risks and
uncertainties, including those more fully described in Sunnova’s
filings with the U.S. Securities and Exchange Commission, including
Sunnova’s annual report on Form 10-K for the year ended December
31, 2022 and subsequent quarterly reports on Form 10-Q. The
forward-looking statements in this press release are based on
information available to Sunnova as of the date hereof, and Sunnova
disclaims any obligation to update any forward-looking statements,
except as required by law.
ABOUT SUNNOVA
Sunnova Energy International Inc. (NYSE: NOVA) is a leading
Energy as a Service (EaaS) provider with customers across the U.S.
and its territories. Sunnova’s goal is to be the source of clean,
affordable and reliable energy with a simple mission: to power
energy independence so that home and business owners have the
freedom to live life uninterrupted®.
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version on businesswire.com: https://www.businesswire.com/news/home/20230919095034/en/
Media Contact Srishti Ahuja
Tandon srishti.ahujatandon@sunnova.com
Investor & Analyst
Contact Rodney McMahan rodney.mcmahan@sunnova.com
281.971.3323
Sunnova Energy (NYSE:NOVA)
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