Calfornia clean energy groups prep new ABS

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By Will Caiger-Smith
16 Sep 2014

Two California-based clean energy financing companies affiliated with the Property Assessed Clean Energy (PACE) programme are preparing asset back securities to be issued before the end of the year, one securitizing unsecured residential energy financing loans and the other backed by PACE assessments.

Renewable Funding, based in Oakland, is preparing its first issuance of unsecured loans for residential energy efficiency products, as it prepares to roll the product out in several more states.

Citi is warehousing loans to be used in the securitization and will be structuring lead on the transaction, ...

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