Ygrene slashes cost of funds with PACE industry’s first S&P stamp

Resi
By Sasha Padbidri
26 Apr 2018

Ygrene Energy Fund’s latest Property Assessed Clean Energy (PACE) securitization, GoodGreen 2018-1, shaved off 10bp in pricing compared to its last deal, after the transaction received both credit ratings and a green score from S&P Global Ratings.

GoodGreen 2018-1, which is backed by a blended pool of residential and commercial PACE liens, was priced via Nomurathis week. The $340.4m ‘A’ notes were priced at 100bp over swaps, making it the tightest pricing for a Ygrene transaction, said Ygrene executives speaking with GlobalCapital on Thursday. ...

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