International law firm Milbank, Tweed, Hadley & McCloy LLP represented Goldman Sachs Lending Partners LLC, as a joint lead arranger and joint bookrunner and as the administrative agent and collateral agent, in a $131M revolving credit facility for Vivint Solar, Inc., a leading provider of distributed solar energy to residential customers. Loans under the revolving credit facility will be used for the construction and acquisition of solar energy systems, and letters of credit may be issued under the revolving credit facility for working capital and general corporate purposes. The Milbank Global Leveraged Finance team was led by partner Marc Hanrahan and included associate Charles Stern. The Project Finance team was led by partner Eric Silverman and included associates Richard Hillman, Kimberly Timko and Brandon Cook. “This is an innovative financing that provides Vivint with the ability to finance a portion of its front-end development and customer acquisition costs in a borrowing base revolving credit structure,” said Mr. Silverman.
