SolarCity to announce third solar ABS

home solar panel
By Matthew Scully
22 Jul 2014

SolarCity, which last November sold the market’s first-ever solar asset-backed security, is preparing to announce a third deal over twice the size of its second issuance in April and four times the size of its inaugural transaction last year.

The new $201.5m securitization will be sold this week through sole bookrunner Credit Suisse and will carry triple-B plus ratings from Standard & Poor’s, investors told GlobalCapital on Tuesday.

SolarCity in April disappointed credit investors and company shareholders with a smaller than expected $70m issuance, ...

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