Annual report pursuant to Section 13 and 15(d)

Indebtedness (Tables)

v3.8.0.1
Indebtedness (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Debt
As of December 31, 2017, debt consisted of the following (in thousands, except percentages):
 
 
Carrying Values, net of
debt discount
 
Unused
Borrowing
Capacity
 
Interest
Rate (1)
 
Maturity
Date
 
 
Current
 
Long Term
 
Total
 
 
 
 
 
 
Recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
Bank line of credit
 
$

 
$
247,000

 
$
247,000

 
$
406

 
4.58% - 4.87%

 
April 2018 (2)
Total recourse debt
 
$

 
$
247,000

 
$
247,000

 
$
406

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
Senior
 
3,561

 
804,894

 
808,455

 
12,758

 
3.63% - 4.69%

 
September 2020 - October 2024
Subordinated
 
4,301

 
107,187

 
111,488

 
27

 
6.36% - 7.13%

 
September 2020 - October 2024
Securitization Class A
 
3,534

 
82,203

 
85,737

 

 
4.40
%
 
July 2024
Securitization Class B
 
440

 
9,644

 
10,084

 

 
5.38
%
 
July 2024
SREC Loans
 
9,693

 
22,488

 
32,181

 

 
7.28
%
 
July 2021
Total non-recourse debt
 
21,529

 
1,026,416

 
1,047,945

 
12,785

 
 
 
 
Total debt
 
$
21,529

 
$
1,273,416

 
$
1,294,945

 
$
13,191

 
 
 
 
As of December 31, 2016, debt consisted of the following (in thousands, except percentages):
 
 
Carrying Values, net of
debt discount
 
Unused
Borrowing
Capacity
 
Interest
Rate
(1)
 
Maturity
Date
 
 
Current
 
Long Term
 
Total
 
 
 
 
 
 
Recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
Bank line of credit
 
$

 
$
244,000

 
$
244,000

 
$
3,406

 
3.96% - 5.75%

 
April 2018
Total recourse debt
 
$

 
$
244,000

 
$
244,000

 
$
3,406

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
Senior
 
3,020

 
439,400

 
442,420

 
14,300

 
2.86% - 4.50%

 
December 2020 - September 2022
Subordinated
 
116

 
42,869

 
42,985

 

 
6.00
%
 
December 2020 - December 2021
Note Payable
 

 
36,232

 
36,232

 

 
12.00
%
 
December 2018
Securitization Class A
 
3,315

 
87,483

 
90,798

 

 
4.40
%
 
July 2024
Securitization Class B
 
416

 
10,084

 
10,500

 

 
5.38
%
 
July 2024
SREC Loans
 
7,286

 
23,802

 
31,088

 
1,032

 
6.88
%
 
July 2021
Total non-recourse debt
 
14,153

 
639,870

 
654,023

 
15,332

 
 
 
 
Total debt
 
$
14,153

 
$
883,870

 
$
898,023

 
$
18,738

 
 
 
 
(1)
Reflects contractual, unhedged rates. See Note 13, Derivatives for hedge rates.
(1)
In February 2018, the maturity date of the Company's corporate bank line of credit was extended to April 2020 from its current maturity date of April 2018.
Schedule of Maturities of Debt, Excluding Debt Discount
The scheduled maturities of debt, excluding debt discount, as of December 31, 2017 are as follows (in thousands):
2018
$
24,476

2019
36,585

2020
394,850

2021
313,852

2022
59,379

Thereafter
486,586

Subtotal
1,315,728

Less: Debt discount
(20,783
)
Total
$
1,294,945