Tesla deal pricing, secondary market growth seen in solar ABS

Tesla priced the latest securitization from its SolarCity subsidiary last Friday, pushing total solar ABS volume beyond $1.5bn in 2017 as secondary market activity begins to build.

  • By Sasha Padbidri
  • 11 Dec 2017

Citi andCredit Suissewere the bookrunners on the $130.91m offering, pricing the $99.02m ‘A’ notes at 185bp over interpolated swaps on December 8, 15bp tighter than the issuer's last offering in November.

The $31.89m ‘B’ tranche was priced to yield 7%, compared with 7.75% on the ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 18.00
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.42
3 Citi 5,130 13 8.76
4 JP Morgan 4,681 6 7.99
5 Lloyds Bank 3,389 13 5.79

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 70,706.73 201 11.50%
2 Bank of America Merrill Lynch 60,472.76 166 9.84%
3 JPMorgan 48,700.30 139 7.92%
4 Wells Fargo Securities 48,082.68 138 7.82%
5 Credit Suisse 38,376.65 95 6.24%