SolarCity preps solar lease, PPA securitization
SolarCity is readying its second solar ABS transaction of 2017, a $340m deal backed by residential rooftop solar leases and power purchase agreements (PPAs).
Credit Suisse is underwriting the deal, TES 2017-1, which will securitize leases and PPAs on a multi-state portfolio of rooftop solar systems in the US. The offering will be split into a $265m Class 'A' and $75m Class 'B' tranche.Kroll Bond Rating Agency is rating the transaction, and ...
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