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Energy fintech establishes $20 million debt facility
A unique debt facility backed by green assets has been established by an energy-financing startup in Sydney.
Melissa Coade
Firms: Ashurst (Brighte Capital Limited); Clayton Utz (NAB)
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Deal: Brighte Capital Limited (Brighte) has established a green asset finance warehouse with NAB.
Value: A$20 million
Area: Finance
Key players: The team advising Brighte was led by Ashurst partner Jennifer Schlosser.
Deal significance: Brighte, a technology fintech that provides financing for green energy household products, such as solar panels and batteries, has established a $20 million debt facility.
NAB was the funder for the structured finance deal, with Brighte as the originator, seller, servicer and income unit holder.
According to a statement released by Ashurst, the deal is significant because it marked further investment in the fintech sector by an Australian bank.
“[This] is an important milestone for Brighte as a major player in the fintech and energy space,” the firm said.
Other parties involved in the transaction were National Australia Managers Limited (manager), Perpetual Corporate Trust Limited (trustee, standby servicer and income unitholder), P.T. Limited as (security trustee), Perpetual Nominees Limited (income unitholder manager).
