Press release -
Update on financing of Otovo’s subscription assets
Reference is made to Otovo’s Q3 presentation, where the company expressed its intention to finalize the refinancing of the company’s subscription asset special purpose vehicle, before year end.
Otovo has been running a process this autumn with multiple banks, and is now finalizing the preferred extended financing structure. The company is confident in closing the refinancing in January 2023.
The company has increased its existing credit facility to NOK 250 million awaiting closure of the process.
Topics
Otovo was founded in Norway in 2016 and is an online marketplace for solar installations. For homeowners, Otovo is the easiest way to get solar panels on the roof, and batteries in the home. Otovo’s marketplace organises hundreds of local, high quality and qualified energy installers. The company uses its proprietary technology to analyse the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers.
Please visit otovo.com for more information.
