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

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.

  • By Sasha Padbidri
  • 26 Apr 2018
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. ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 13,295 25 18.56
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.25
3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 104,581.71 299 10.92%
2 Bank of America Merrill Lynch 86,347.40 249 9.02%
3 JPMorgan 80,990.39 237 8.46%
4 Wells Fargo Securities 77,934.65 225 8.14%
5 Credit Suisse 63,570.21 165 6.64%