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Sunrun, National Grid subsidiary amends credit facility

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Sunrun, National Grid subsidiary amends credit facility

Sunrun Inc. and National Grid USA disclosed in a March 29 filing that a jointly owned subsidiary amended a credit facility originally entered into in May 2017.

The amendments include increasing the credit facility's advance rate to 68% of the borrowing base, from 65%.

Additionally, the company reduced the initial interest rate on the credit facility to LIBOR-plus-225 basis points until April 30, 2021, and to LIBOR-plus-250 basis points thereafter until maturity.