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    Nautilus Solar closes USD-202m private placement

    September 21, 2023 - SeeNews Renewables


      September 21 (Renewables Now) - Nautilus Solar Energy LLC, on behalf of its affiliate Nautilus US Power Holdco LLC, has raised USD 202 million (EUR 188m) by issuing senior secured notes to institutional investors in a private placement.

      The community solar company announced the completion of the transaction on Thursday, saying that this is the first institutional debt financing to secure an investment-grade rating for a 186-MW portfolio consisting mainly of community solar assets. The bundle includes 58 projects located in seven different states.

      "With the successful closing of this private placement transaction, we are even more well-positioned to continue to grow our community solar business throughout the country," said Jeffery Cheng, CEO of Nautilus Solar Energy.

      National Bank Financial Inc and RBC Capital Markets served as advisor and joint lead placement agents for Nautilus, while Greenberg Traurig LLP acted as its legal counsel. Winston & Strawn LLP, in turn, was the legal counsel for the investors.

      (USD 1.0 = EUR 0.931)


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