POWERBANK Corp (SUUN) Form 6-K — Oct 26, 2026
PowerBank Corporation completed a CA$25.4 million project-level refinancing covering 53 operating solar projects, reducing outstanding project loan principal by roughly CA$4.2 million, or 14%. The deal consolidates 50 credit agreements across three lenders into a single facility with a major Canadian bank. The transaction is expected to release approximately CA$5.0 million in net cash after a CA$1.5 million closing contribution, reserve funding, and closing costs, with ~CA$5.9 million in reserve and lockbox funds plus CA$543,000 from swap unwinds feeding the total. Scheduled quarterly debt payments, banking fees, and administrative costs are expected to decline.
Key figures
- Prior lenders
- 3
- Projects covered
- 53
- Project companies
- 14
- Net cash release cad
- CA$5.0 million
- O m projects in house
- 49
- Refinancing amount cad
- CA$25.4 million
- Replaced principal cad
- CA$29.6 million
- Principal reduction cad
- CA$4.2 million (14%)
- Closing contribution cad
- CA$1.5 million
- Swap unwind proceeds cad
- CA$543,000
- Reserve lockbox release cad
- CA$5.9 million
- Credit agreements consolidated
- 50
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