SolarCity issues smaller than expected $70m ABS

solarcity panels
By Matthew Scully
03 Apr 2014

SolarCity’s hotly-anticipated second securitization fell short of analysts' expectations in terms of size, and priced not far off from its $54m November deal. The deal should help forge a path for other solar issuers — but some observers said they had hoped for a more impressive result and SolarCity equity investors' marked the stock down 5.5% by mid-afternoon on Thursday.

Optimistic analysts had hoped for a deal of up to $100m in size. Solar ABS is in focus as investors search for yield and other potential issuers in the space look to replace a finite funding source.

The 6.6 year notes were priced 35bp tighter than SolarCity's previous ...

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