Sunnova Reportedly in Talks With Creditors to Fund Possible Bankruptcy

MT Newswires Live

May 01

Sunnova Energy International (NOVA) is seeking funds from creditors to prepare for a potential bankruptcy, multiple news outlets reported late Tuesday, citing sources.

According to Reuters, the company is pursuing a dual-track strategy, preparing for a possible court filing while also seeking bridge financing to allow more time to restructure its debt out of court.

The company missed an interest payment in early April on its 11.75% senior notes due 2028. The 30-day grace period to avoid default ends Thursday, according to media outlets.

No final decision has been made regarding the financing, the sources said.

The company didn't immediately respond to a comment request from MT Newswires.

Shares of Sunnova Energy were down nearly 15% in recent trading.

Price: 0.19, Change: -0.03, Percent Change: -14.86

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