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 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 2,454.09 9 13.89%
2 JPMorgan 1,441.26 6 8.16%
3 SG Corporate & Investment Banking 1,292.64 1 7.32%
3 Rabobank 1,292.64 1 7.32%
5 Bank of America Merrill Lynch 1,226.20 5 6.94%