Sunnova Energy rises as Oaktree buys up position in co's debt ahead of talks

Sunnova Energy International

20/03/2025 16:52

** Shares of residential solar firm Sunnova Energy International NOVA.N rise 35.8% to 50 cents

** Company rises on report that Oaktree Capital Management has been buying up debt in NOVA as it prepares for negotiations with creditors to address troubled capital structure

** According to Bloomberg News, Oaktree has been making the purchases in recent days and has accumalated around $400 mln of NOVA's debt

** Company's net long-term debt stood at $8.13 billion for the year ended December 31, 2024

** Including session's moves, stock down 85.3% YTD

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com))