Tesla offers second solar ABS deal in two months

Investors are eager for a slice of Tesla’s latest solar securitization from its SolarCity subsidiary, said industry sources, but solar ABS volume could remain limited in 2018 unless the challenge of securitizing commercial and industrial scale solar assets can be cracked.

  • By Sasha Padbidri
  • 04 Dec 2017

Tesla filed ABS-15G documents with the Securities and Exchange Commission last week for its upcoming deal, called TES 2017-2. Kroll Bond Rating Agency assigned preliminary ratings of A- to the $99.02m ‘A’ notes and BB to the $31.89m ‘B’ notes.

Citi and Credit Suisse are leading the deal, which will ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 12.47
2 BNP Paribas 3,136 11 9.10
3 Bank of America Merrill Lynch (BAML) 2,934 10 8.52
4 Lloyds Bank 2,213 9 6.42
5 Credit Agricole 2,025 6 5.88

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 45,786.98 132 11.43%
2 Bank of America Merrill Lynch 42,772.13 118 10.68%
3 Wells Fargo Securities 33,822.43 98 8.45%
4 JPMorgan 31,322.80 90 7.82%
5 Credit Suisse 24,807.99 61 6.20%