Sunrun Inc., the largest dedicated residential solar company in the United States,recently announced it completed a $45 million increase to its corporate working capital facility, reaching a total commitment level of $250 million. Based on the terms of the loan, all $250 million in commitments are currently available to the Company. Three leading finance institutions participated in the upsizing.
“Sunrun continues to be a leader in raising flexible recourse and non-recourse capital at attractive rates,” said Sunrun Chief Financial Officer Bob Komin. “Our high quality customer base and operating asset performance combined with our disciplined approach towards balance sheet management has created a durable advantage in the financial markets.”
The terms of the facility remain unchanged with an interest rate of LIBOR + 3.25%. Cash flows are advanced from a borrowing base calculated monthly that principally considers take-out financing for backlog projects, as well as other current assets.