Altus Power has closed on a secured credit facility with a principal loan amount of $100 million by an affiliate of Goldman Sachs Asset Management and CPPIB Credit Investments III, a subsidiary of Canada Pension Plan Investment Board.
The company plans to use facility proceeds to support its ongoing expansion. The facility carries an 8.5% interest rate and a term of six years while being prepayable without penalty after three years.
“We’re pleased to welcome Goldman Sachs and CPP Investments as partners in Altus Power, bringing capital that will fund our expected growth plans in 2024,” says Dustin Weber, CFO of Altus Power. “This financing capitalizes on our growing cash flow generation, which has been a defining feature of our business model.”
“Our pipeline includes an attractive flow of operating and development assets and, with this efficient financing, we’re well positioned to execute on these opportunities,” adds Altus Power’s Gregg Felton. “We believe this new facility positions us to increase our market share while providing our counterparties with execution certainty and our shareholders with continued profitable growth.”
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Altus Power Closes Financing from Goldman Sachs and CPP Investments
It’s possible that Americans are so angry that the Trump administration has ruined their country and its democracy that paid advertising for Republican candidates is having no effect on them.
We can only hope.
Obviously, the endorsement of a much-despised president didn’t help, but what chance did this election-denying moron actually have in a sophisticated state like Minnesota?
One good thing about having Trump in the White House is that doesn’t have enough sense to hide what a terrible person he is.
We all recall the COVID-19 outbreak, and Trump’s suggestion that we reduce our testing for the disease on the basis that less testing means fewer positive results, which means less outrage on the level of Trump’s ineptitude in handling the epidemic.
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