JWCA advises Bloom Energy Corp. on its inaugural $600 million revolving credit facility in conjunction with its upsized $2.5 billion zero-coupon convertible bond offering

DecemBer 2025 | read press release

• Bloom Energy Corp. (“Bloom” or “the Company”) successfully entered into its inaugural upsized $600 million revolving credit facility ("RCF") in conjunction with its upsized $2.5 billion zero-coupon convertible bond offering

• Bloom’s objectives included:

  • Leverage convertible issuance and relationship-building event to simultaneously, efficiently and opportunistically put in place a revolving credit facility with minimal impact to the Company

  • Take advantage of recent underlying fundamental strength and momentum

  • Create incremental liquidity with flexible terms and attractive economics

  • Diversify its liquidity sources and reinforce market confidence by demonstrating support of a strong bank group committing significant capital

• JWCA provided extensive analysis on deal structuring and related items, including:

  • Designed and executed an efficient RFP process, allowing the Company to syndicate the RCF in conjunction with convertible offering

  • Advised on negotiation tactics and analysis, modeling, internal implications and marketing the new RCF 

  • Worked with counsel and other counterparties to ensure best-in-class terms on pricing, covenants and other aspects of the credit agreement 

  • Negotiated on behalf of the Company with the banks in the areas the Company wanted most flexibility to meet its strategic and operational goals

  • Consulted on the marketing materials, diligence process and overall execution

• JWCA negotiated with the lenders and facilitated a smooth process of drafting the credit agreement and ancillary documents to the closing

• JWCA provided advice, support and analysis throughout the execution process

• Bloom Energy successfully put in place an inaugural $600 million revolving credit facility, upsized from $500 million at launch, due to significant lender demand

• The Company was able to achieve company-friendly and favorable terms, allowing Bloom maximum flexibility to continue executing in its commercial journey