- Ameresco Inc (NYSE:AMRC) entered into an amendment and restatement to its current senior secured credit facility with a group of lenders to increase the credit facility by $262 million, bringing the total to $495 million.
- The financing was secured with Bank of America. It included an increase in Ameresco’s revolver to $200 million, a boost to the existing term loan to $75 million, and a new 18-month Delayed-Draw Term Loan A of up to $220 million.
- The company plans to use the facility to fund various near and long-term growth objectives.
- “This large-scale facility will provide a low cost and flexible source of capital as we continue to develop and diversify our portfolio of cleantech solutions and renewable energy projects,” commented Doran Hole, EVP, and CFO, Ameresco.
- Price Action: AMRC shares are trading higher by 5.98% at $66.97 on the last check Monday.
UBS Upgrades SunPower to Neutral, Raises Price Target to $17
UBS analyst Jon Windham upgrades SunPower (NASDAQ:SPWR) from Sell to Neutral and raises the price target from $14 to $17.
