-3.4 C
New York
Tuesday, December 24, 2024

Sunrun Securitizes Photo voltaic Leases, PPAs


Sunrun, a supplier of residential photo voltaic, storage and power providers, has closed the securitization of leases and energy buy agreements, often known as Sunrun’s solar-as-a-service providing, and raised further subordinated non-recourse financing.

“We’re happy with Sunrun’s record-setting transaction, inserting the biggest ever residential photo voltaic securitization for the business and subsequently elevating further non-recourse financings,” says Danny Abajian, Sunrun’s CFO.

“Sunrun’s execution demonstrates our non-recourse, asset stage financing technique gives engaging capital to gas progress, with sturdy advance charges, permitting unit-level money technology over time with out rising leverage on the guardian stage.”

Just like prior transactions, Sunrun raised a further subordinated subsidiary-level non-recourse financing totaling $253 million after the securitization transaction closed, which elevated the cumulative advance price obtained by Sunrun.

Deutsche Financial institution Securities was the only real structuring agent and served as joint bookrunner together with Atlas SP Securities, BofA Securities and MUFG Securities Americas. Citigroup International Markets, Credit score Agricole Securities, ING Monetary Markets, J.P. Morgan Securities, SG Americas Securities, TD Securities and Truist Securities served as co-managers for the securitization.

Related Articles

Latest Articles

Verified by MonsterInsights