White & Case Advises TotalEnergies and Global Infrastructure Partners on US$175 Million Capital Financing

Global law firm White & Case LLP has advised TotalEnergies and Global Infrastructure Partners on a US$175 million capital financing transaction provided through a second lien term loan from Sol Holding, LLC, an indirect subsidiary of TotalEnergies and GIP, to SunPower Corporation (NASDAQ: SPWR), a leading residential solar technology and energy services company. Sol Holding, LLC is also SunPower Corporation's majority shareholder.

In connection with the second lien term loan, SunPower agreed to issue penny warrants to Sol Holding to purchase shares of SunPower Corporation's common stock. White & Case LLP also advised TotalEnergies and Global Infrastructure Partners on an amendment to SunPower's existing senior secured corporate facility that will make US$25 million of additional financing under that facility available to be borrowed in the immediate future and comprehensive amendments and waivers to each of SunPower's other project-level financing facilities.

SunPower is a leading residential solar, storage and energy services provider in North America, offering solar and storage solutions that give customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners.

The White & Case multi-disciplinary cross office team was led by partner Maia Gez (Public Company Advisory), partner Aaron Colodny (Financial Restructuring and Insolvency), partner Elena Millerman (Project Development and Finance) and partner Laura Katherine Mann (Capital Markets).

The team also included Project Development and Finance partner Yan Ng and associate Mostafa Al Khonaizi; and Capital Markets associates Alok Choksi, Melissa Curvino and Steven Amrein. Law clerks Brandon Wong, Yousef El Zohiry, Stephen Fitzpatrick and Ijeoma Oti also assisted on the matter.

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