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Indebtedness (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule of debt
As of June 30, 2017, debt consisted of the following (in thousands, except percentages):
 
 
Carrying Values, net of debt discount
 
Unused Borrowing Capacity
 
Annual Contractual Interest Rate
 
Interest Rate
 
Maturity Date
 
 
Current
 
Long Term
 
Total
 
 
 
 
 
 
 
 
Recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bank line of credit
 
$
247,000

 
$

 
$
247,000

 
$
406

 
Varies (1)

 
4.33% - 4.46%

 
April 2018
Total recourse debt
 
$
247,000

 
$

 
$
247,000

 
$
406

 
 
 
 
 
 
Non-recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Term loan
 

 
121,532

 
121,532

 
12

 
Varies (2)

 
3.74% - 3.97%

 
April 2024
Line of credit (Aggregation Facility)
 

 
239,300

 
239,300

 
8,500

 
Varies (3)

 
3.67% - 3.72%

 
December 2020
Term Loan and Term Loan B
 
2,606

 
39,553

 
42,159

 

 
Varies (4)

 
6.17
%
 
December 2020 and 2021
Term Loan A
 
568

 
145,454

 
146,022

 
5,000

 
Varies (5)

 
3.92
%
 
December 2021
Bank term loans
 
1,530

 
32,307

 
33,837

 

 
LIBOR + 2.25%

 
3.48
%
 
September 2022
 
 
 
 
 
 
 
 
 
 
LIBOR + 3.00%

 
4.30
%
 
September 2022
Bank term loan
 
8,929

 
24,507

 
33,436

 

 
Varies (6)

 
6.70% - 10.20%

 
July 2021
Bank term loan
 
1,402

 
25,365

 
26,767

 

 
4.50
%
 
4.50
%
 
April 2022
Solar asset-backed notes
 
3,848

 
95,003

 
98,851

 

 
4.40% - Class A

 
4.40
%
 
July 2024
 
 
 
 
 
 
 
 
 
 
5.38% - Class B

 
5.38
%
 
July 2024
Note payable
 

 
38,328

 
38,328

 

 
12.00
%
 
12.00
%
 
December 2018
Total non-recourse debt
 
18,883

 
761,349

 
780,232

 
13,512

 
 
 
 
 
 
Total debt
 
$
265,883

 
$
761,349

 
$
1,027,232

 
$
13,918

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

 
$
244,000

 
$
244,000

 
$
3,406

 
Varies (1)

 
3.96% - 5.75%

 
April 2018
Total recourse debt
 
$

 
$
244,000

 
$
244,000

 
$
3,406

 
 
 
 
 
 
Non-recourse debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Line of credit (Aggregation Facility)
 

 
245,200

 
245,200

 
9,300

 
Varies (3)

 
2.93% - 3.39%

 
December 2020
Term Loan and Term Loan B
 
116

 
42,870

 
42,986

 

 
Varies (4)

 
6.00
%
 
December 2020 December 2021
Term Loan A
 
616

 
146,387

 
147,003

 
5,000

 
Varies (5)

 
3.64
%
 
December 2021
Bank term loan
 
1,074

 
21,249

 
22,323

 

 
LIBOR + 2.25%

 
2.86
%
 
September 2022
Bank term loan
 
7,286

 
23,802

 
31,088

 
1,032

 
Varies (6)

 
6.25% - 9.94%

 
July 2021
Bank term loan
 
1,331

 
26,565

 
27,896

 

 
4.50
%
 
4.50
%
 
April 2022
Solar asset-backed notes
 
3,730

 
97,565

 
101,295

 

 
4.40% - Class A

 
4.40
%
 
July 2024
 
 
 
 
 
 
 
 
 
 
5.38% - Class B

 
5.38
%
 
July 2024
Note payable
 

 
36,232

 
36,232

 

 
12.00
%
 
12.00
%
 
December 2018
Total non-recourse debt
 
14,153

 
639,870

 
654,023

 
15,332

 
 
 
 
 
 
Total debt
 
$
14,153

 
$
883,870

 
$
898,023

 
$
18,738

 
 
 
 
 
 
(1)
Loans under the facility bear interest at LIBOR +3.25% per annum or the Base Rate +2.25% per annum. The Base Rate is the highest of the Federal Funds Rate +0.50%, the Prime Rate, or LIBOR +1.00%.
(2)
Loans under the facility bear interest at LIBOR +2.75% per annum for the initial four-year period for LIBOR loans or the Base Rate +1.75% per annum for Base Rate Loans.
(3)
Loans under the facility bear interest at LIBOR +2.50% per annum for the initial three-year revolving availability period, stepping up to LIBOR +2.75% per annum in the following two-year period.