Property Assessed Clean Energy (PACE) issuer Renovate America is breathing life back into an otherwise quiet market with a deal backed by residential PACE liens. Instead of tapping the securitization market, PACE providers are choosing to go down alternative routes, such as pursuing private transactions or arranging forward flow agreements, sources say.
The San Diego-based company filed ABS-15G documents with the Securities and Exchange Commission for HERO 2019-1 on Tuesday. Barclays is the sole lead for the transaction. In May, Kroll Bond Rating Agency upgraded the ratings on all of Renovate America’s outstanding securitizations since 2014 to a triple-A from
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
Or sign up for a trial to gain full access to the entire site for a limited period.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.