Oaktree Buys Up Position in Sunnova Debt Ahead of Talks

Oaktree Capital Management has been buying up debt in Sunnova Energy International Inc. as the solar panel provider prepares for negotiations with its creditors to address its troubled capital structure, according to people familiar with the matter.

Oaktree has been making the purchases in recent days and has accumulated around $400 million of the company’s debt, said the people who asked not to be named discussing private information. Sunnova had more than $8 billion of net debt at the end of last year, including asset-backed facilities, according to its 2024 earnings statement.