Investors pile into Mosaic solar loan ABS
California-based solar finance company Mosaic sold a $138.95m ABS deal late last week, with sources saying it was heavily oversubscribed.
Sole bookrunner Guggenheim Securities sold the single tranche offering at 255bp over swaps and a yield of 4.45%, 5bp tighter than 4.50% yield area targeted at guidance. According to a source with knowledge of the deal, the order book was four times oversubscribed.“It demonstrates the growing institutional ...
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