Altus power, inc. announces new financing agreement to optimize recent acquisition from d.e. shaw renewable investments

Stamford, conn.--( business wire )--altus power, inc. (“altus power” or the “company”) (nyse: amps), the premier independent developer, owner and operator of commercial-scale solar facilities, announced that on december 23, 2022, it refinanced and upsized the term loan facility assumed with the recently executed d.e. shaw renewable investments (desri) portfolio. the principal amount of the facility was upsized to $141.3 million consisting of a term loan facility for approximately $125.7 million and letters of credit for approximately $15.6 million. the financing agreement includes an interest rate swap which provides for an effective fixed rate of 4.885% for a term of five years.
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