Commercial PACE firms plot regular ABS outings

Securitizations of commercial Property Assessed Clean Energy (PACE) financings are slowly becoming more common — and with two C-PACE deals notched to date, executives at issuing firms say they plan to be regular sellers.

  • By Fotios Tsarouhis
  • 08 Aug 2018

CleanFund priced its inaugural deal — the first public C-PACE offering — at 125bp over swaps late last month. The single tranche deal was rated triple-A by Kroll Bond Rating Agency.

“Investor demand was strong,” CleanFund CEO Greg Saunders told GlobalCapital. "They tend to be life insurance companies, ...

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 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 130,010.09 379 11.12%
2 Bank of America Merrill Lynch 104,113.90 304 8.90%
3 JPMorgan 102,778.33 300 8.79%
4 Wells Fargo Securities 93,728.92 276 8.01%
5 Credit Suisse 76,904.09 209 6.58%