to-the-point Greenbacker agrees USD-37.6m credit deal
July 13 – US company Greenbacker Renewable Energy Company LLC on Tuesday announced a credit agreement of up to USD 37.55 million (EUR 33.9m) to support its investments in operating solar facilities.
The deal, with Fifth Third Bank, includes an initial term loan of USD 4.3 million and a revolving credit facility of up to USD 33.25 million that will convert to a term loan facility in July 2017.
The financing has a final maturity date of July 2021.
“We continue to seek high quality alternative energy assets, and this facility provides Greenbacker additional flexibility in acquiring power generation assets to provide a diversified revenue stream, leading to more predictable returns for our investors,” said Greenbacker chief executive Charles Wheeler.
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