Leeward Renewable Energy Operations, a subsidiary of US developer Leeward Renewable Energy, has closed a $375m green bond offering and secured a $100m revolving credit facility.
The company said it will use the proceeds to finance the development, construction, operation and maintenance of renewable energy projects.
The bond were assigned a first-time issuer default rating of BB- by Fitch and a first time Ba3 corporate family rating by Moody’s.
Wells Fargo Bank is administrative agent for the revolving credit facility.
Leeward Renewable Energy owns and operates a portfolio of 21 clean power plants across nine US states, totalling more than 2GW of generating capacity.
It is developing new wind, solar and energy storage projects the US, with 17GW under development spanning over 100 plants.
“We are pleased with our debut offering, enabling us to execute on our aggressive growth strategy across our wind, solar and renewable energy storage platform,” said Leeward chief financial officer Chris Loehr.
“Responsible development is a value that runs deep at Leeward, and we intend to pursue a lower carbon future through the responsible development, construction, operation and maintenance of renewable energy projects.”