Greenbacker Renewable Energy Company LLC enters into a $60,000,000 Senior Secured Credit Facility with Fifth Third Bank
NEW YORK–(BUSINESS WIRE)–Greenbacker Renewable Energy Company LLC (the “Company”) announced today
that on January 5, 2018 it entered into a $60 million senior secured
credit agreement (the “Facility”) with Fifth Third Bank, who acted as
sole lead arranger and sole bookrunner. The initial drawdown on the
facility was approximately $25.7 million, which was used to pay off
existing loans with various financial institutions as well as for
funding future investments. The Facility, which allows for additional
drawdowns through December 31, 2018, matures on January 5, 2024, and
bears interest at a rate priced over LIBOR, is collateralized by assets,
property and interests in property held by various Company subsidiaries.
“Entering into this Credit Agreement with Fifth Third Bank enhances a
relationship that the Company has had with Fifth Third Bank over the
past few years,” stated Richard Butt, CFO of Greenbacker. “We look
forward to expanding our banking relationship in the coming years as the
Company continues to grow and invest in alternative energy assets for
the benefit of our investors.”
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company is a publicly registered,
non-traded limited liability company that owns and operates a
diversified portfolio of income-producing renewable energy power plants,
energy efficiency projects and other sustainable investments.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements are
not guarantees of future performance and involve known and unknown
risks, uncertainties and other factors that may cause the actual results
to differ materially from those anticipated at the time the
forward-looking statements are made. Although the Company believes the
expectations reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that the expectations
will be attained or that any deviation will not be material. The Company
undertakes no obligation to update any forward-looking statement
contained herein to conform to actual results or changes in the
Company‘s expectations.
Contacts
Greenbacker Renewable Energy Company LLC
David Sher
Director
917-309-1234