Greenworks closes first ever commercial PACE deal

Commercial Property Assessed Clean Energy (PACE) lender Greenworks Lending closed the first ever securitization backed by mid-sized commercial PACE assets on September 25 and plans to become a frequent issuer in the ABS market.

  • By Sasha Padbidri
  • 26 Sep 2017

The $75m single-tranche deal, rated double-A by Morningstar Credit Ratings, was arranged by Guggenheim, with TIAA Investments as the sole buyer. Greenworks could not disclose pricing information at press time.

The assets in the portfolio included property types such as office space, industrial and hospitality, with seven states ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 13.02
2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,251.11 279 13.15%
2 Bank of America Merrill Lynch 90,895.27 265 12.04%
3 Wells Fargo Securities 72,661.39 222 9.63%
4 JPMorgan 52,367.24 169 6.94%
5 Credit Suisse 41,885.89 127 5.55%