Annual report pursuant to Section 13 and 15(d)

Indebtedness (Tables)

v3.19.3.a.u2
Indebtedness (Tables)
12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of debt
As of December 31, 2019, 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
 
$

 
$
239,485

 
$
239,485

 
$

 
5.09% - 5.38%

 
April 2022
Total recourse debt
 

 
239,485

 
239,485

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
Senior
 
8,020

 
617,499

 
625,519

 
14,639

 
3.94% - 5.61%

 
April 2022 - July 2027
Subordinated
 

 
513,938

 
513,938

 

 
6.93% - 10.80%

 
March 2023 - July 2030
Securitization Class A
 
26,838

 
839,981

 
866,819

 

 
3.61% - 5.31%

 
July 2024 - February 2055
Securitization Class B
 
490

 
8,689

 
9,179

 

 
5.38
%
 
July 2024
Total non-recourse debt
 
35,348

 
1,980,107

 
2,015,455

 
14,639

 
 
 
 
Total debt
 
$
35,348

 
$
2,219,592

 
$
2,254,940

 
$
14,639

 
 
 
 

(1) 
Reflects contractual, unhedged rates. See Note 13, Derivatives for hedge rates.

As of December 31, 2018, 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

 
5.45% - 5.77%

 
April 2020
Total recourse debt
 

 
247,000

 
247,000

 
406

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
Senior
 
19,070

 
809,447

 
828,517

 

 
4.50% - 5.54%

 
September 2020 - October 2024
Subordinated
 
5,824

 
267,513

 
273,337

 

 
7.03% - 10.00%

 
September 2020 - January 2030
Securitization Class A
 
10,125

 
380,299

 
390,424

 

 
4.40% - 5.31%

 
July 2024 - April 2049
Securitization Class B
 
465

 
9,179

 
9,644

 

 
5.38
%
 
July 2024
SREC Loans
 

 

 

 

 


 

Total non-recourse debt
 
35,484

 
1,466,438

 
1,501,922

 

 
 
 
 
Total debt
 
$
35,484

 
$
1,713,438

 
$
1,748,922

 
$
406

 
 
 
 

(1) 
Reflects contractual, unhedged rates. See Note 13, Derivatives for hedge rates.
Schedule of maturities of debt, excluding debt discount
The scheduled maturities of debt, excluding debt discount, as of December 31, 2019 are as follows (in thousands):
2020
$
38,739

2021
99,307

2022
316,716

2023
218,334

2024
534,077

Thereafter
1,096,136

Subtotal
2,303,309

Less: Debt discount
(48,369
)
Total
$
2,254,940