Trio of solar ABS push issuance past $1bn

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By Jennifer Kang
08 Mar 2021

Loanpal, Solar Mosaic and Sunrun have all returned to the securitization market in the span of two weeks, ramping up first quarter volumes to over $1bn for the first time ever. Sources expect solar loan origination and demand to significantly increase in 2021 as the asset class provides a clear cut way to fulfill investors’ ESG criteria.

Loanpal, the latest deal to price, saw its class ‘A’ notes price at 115bp over swaps, the class ‘B’ notes price at 160bp over swaps and finally the ‘C’ notes price at 375bp over swaps, all in the tighter end of initial pricing thoughts. 

Kroll Bond Rating Agency assigned ...

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