Sunrun $400 million convertible senior notes offering
We advised the initial purchasers on the Rule 144A offering

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Sunrun Inc. of $400 million aggregate principal amount of its 0% convertible senior notes due 2026, including $50 million aggregate principal amount of convertible senior notes pursuant to the exercise of the initial purchasers’ option to purchase additional securities. In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.

Based in San Francisco, California, Sunrun’s mission is to provide its customers with clean, affordable solar energy and storage and a best-in-class customer experience. In 2007, Sunrun pioneered the residential solar service model, creating a low-cost solution for customers seeking to lower their energy bills.

The Davis Polk corporate team included partner Emily Roberts and associates Daniel Fox, Dana Lueck-Mammen and Travis B. Mitchell. The equity derivatives team included partner Mark M. Mendez and associates Hanbing Zhang, Joseph Luizzi and Lindsey B. Meyers-Perez. The tax team included partner Lucy W. Farr.  Associate Daniel P. Kearney provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.