Solar finance startup Brighte locks in $195m via green debt facility
Energy finance provider Brighte has raised a warehouse facility for the fifth time and founder Katherine McConnell sees more opportunity as households continue to electrify, despite interest rate and cost of living headwinds.
Brighte Capital founder and CEO Katherine McConnell has been in a good place since the home energy upgrade finance provider last week successfully closed a $195 million debt facility rated by the climate bond initiative.
The new funding means Brighte can expand its financing operations under its model of partnering with corporates, governments and tradespeople.
“Under our business plan this year, we’re not required to raise more capital,” McConnell tells Capital Brief in an interview. “We’re well-capitalised, and we’re in a strong position. What this means is that we now have complete funding headroom available to continue to be able to grow and originate more credit this year.”
National Australia Bank was lead arranger on the warehousing facility, which was split into nine tranches and paid coupons between 140-650bps over the bank bill swap rate.
