Commercial PACE firms plot regular ABS outings

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By Fotios Tsarouhis
08 Aug 2018

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.

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, ...

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