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Energy-as-a-Service Provider Secures $400 Million Debt Facility
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Budderfly announced that it has secured a $400 million senior debt facility originated by Vantage Infrastructure with the financing co-led by Vantage and the Energy Infrastructure Credit team at Nuveen, "to support Budderfly’s next stage of growth and help accelerate clean energy technology adoption across the mid-market, comprised of small- and mid-sized commercial and non-industrial facilities[.]"
Under the terms of the transaction, Vantage and Nuveen have committed $200 million to Budderfly at close, along with an option that provides Budderfly access to an additional $200 million in financing.
"The capital will support Budderfly’s continued ability to identify and deploy energy-saving technologies, including high-performance HVACs, solar panels, smart thermostats, and more, for the growing number of small- and medium-sized commercial buildings across the United States in need of cost-effective decarbonization solutions," Budderfly said
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January 24, 2024
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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