Sunrun returns with solar ABS offering
Residential solar finance company Sunrun is preparing a $312.4m deal backed by a portfolio of leases and power purchase agreements, the first time the issuer has tapped the ABS market twice in a one year.
The deal is backed by a portfolio of newly originated assets with an aggregate photovoltaic (PV) system size of 208.9 megawatts, more than double the size seen in Sunrun’s previous deal in June. Moreover, while the portfolio is less seasoned, the advance rate on the senior bond is
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