Vivint drops ABS offering "on the cusp of closing"

US rooftop solar_PA_575x375
By Taryana Odayar
13 May 2020

Vivint Solar pivoted away from a solar securitization that was "on the cusp of closing" before the onset of the Covid-19 pandemic, in favor of an alternative financing structure that it hopes to close in the second quarter.

The company had been days away from refinancing assets in its warehouse facility through an ABS offering, said the company's CFO, Dana Russell, on a May 7 earnings call.

But when the ABS market largely closed to new issuance in mid-March, Vivint began working on an alternative source of ...

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