(Bloomberg) -- Silicon Valley Bank will lead a financing facility of more than $200 million for Pivot Energy’s multistate portfolio of solar projects, marking the lender’s first syndicated-loan closing since it was seized by regulators and sold to First Citizens BancShares Inc.

The Santa Clara, California-based bank was a leader in solar financing before its collapse in March. The debt transaction — which includes construction, tax-equity bridge and term loans — “shows First Citizens Bank’s commitment to continue lending to this vital space,” according to a statement.

Silicon Valley Bank unraveled in less than 48 hours in early March after a rush of customer withdrawals forced it to take huge losses on sales of securities which lost value as interest rates climbed. First Citizens, based in Raleigh, North Carolina, agreed later in the month to buy the bank, acquiring about $72 billion of SVB assets at a discount of $16.5 billion. The deal transformed First Citizens into one of the top 15 US banks.

Silicon Valley Bank was known as a climate bank — one that provided financing to renewable energy companies, specialized in small solar projects and, by its own accounting, served more than 1,550 customers doing climate and sustainability work.

The new financing deal will help “show the broader community solar space that SVB and First Citizens Bank remain committed to this important asset class,” Bret Labadie, chief financial officer of Pivot Energy, which will build and operate the new solar portfolio, said in the statement.

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