(Bloomberg) -- Sunnova Energy International Inc. is evaluating options for its corporate debt, the struggling rooftop solar company’s chief executive officer said following the release of first-quarter results. 

“Our corporate debt clearly is trading at very deep discounts,” John Berger said during a conference call Thursday to discuss Sunnova’s latest results. “We are, as you would expect, evaluating the opportunities that that presents.”

The comments came as Bloomberg reported Wednesday that Sunnova is huddling with investment bank Moelis & Co. for advice on addressing its upcoming maturities. 

Shares rose 19% to $4.19 as of 10:35 a.m. Thursday in New York, erasing the prior session’s 16% plunge in the wake of the Bloomberg report. Sunnova’s stock closed at a record low Wednesday.

The company carries around $7.5 billion of long-term debt, including a $400 million bond that’s callable next month. The note is priced around 59 cents on the dollar, according to Trace, after also hitting a record low Wednesday. 

Rooftop solar firms are contending with high interest rates that have made it more expensive for people to install panels. US residential installations are projected to decline 13% this year, and Sunnova on Wednesday cut its 2024 guidance for new customers by nearly a quarter. It also announced that Chief Financial Officer Robert Lane will leave the company in June.

If Sunnova pursued a distressed exchange, it could negotiate with bondholders to swap its outstanding paper for a smaller amount of debt, longer-dated maturities or both.

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