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New York-based DSD Renewables (DSD) has raised $155 million in debt financing for its first commercial and industrial (C&I) solar-asset-backed securitization (ABS).
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SolaREIT, a Maryland-based solar real estate investment fund, has closed a $100 million securitization of solar leases with Nuveen.
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Rayburn Electric County Coop, a Texas-based electric generation and transmission cooperative that suffered massive losses due to winter storm Uri last February, has closed a $908 million securitization.
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PNM, the New Mexico utility subsidiary of PNM Resources, has filed a notice of appeal with the New Mexico Supreme Court after the utility’s application to divest its interest in the Four Corners coal-fired power plant was denied by the New Mexico Public Regulation Commission (NMPRC).
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Vivint Solar's former chief commercial officer and head of capital markets, Thomas Plagemann, has joined a Louisiana-based residential solar developer as its CFO.
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Sunnova Energy has priced its fifth securitization backed by residential solar loans totaling $155.8 million.
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Sunrun has increased the size and reduced the pricing of its non-recourse warehouse loan with a syndicate of eight financial institutions.
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Sunrun has closed a residential solar lease securitization under the name Sunrun Demeter 2021-2.
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The solar ABS sector is set to hit a new record for issuance volumes in 2021 with the addition of Sunrun and Solar Mosaic’s transactions, as a wider pool of institutional investors join the market, encouraged by more frequent ratings from the three major credit rating agencies.
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Sunnova Energy International is preparing to launch its fourth securitization backed by residential solar loans.
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MUFG has introduced a new CLO asset class, bundling $500 million of project finance and infrastructure loans together for Starwood Property Trust in a deal that clearly demonstrated investor appetite for the product.
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Securitization exists in the public consciousness primarily as a shadowy corner of the capital markets in which out-of-control financial engineering causes global economic meltdowns. Could it be due a reappraisal?
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Residential solar finance company Mosaic’s foray into the recently reopened asset-backed securitization market was well received by investors, reaping a multiple-times oversubscribed order book, in part thanks to data that shows the pandemic having a limited impact on solar loans.
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One of the first pieces of advice a retail stock investor receives after opening their first brokerage account or downloading the Robinhood app is not to try to “time the market.” But in corporate finance – especially during weak markets – timing is everything. If a window of opportunity opens after a period of volatility, you go for it.
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Solar finance company Sunnova priced the first solar securitization of 2020, a $313.5 million dual-tranche offering, on Feb. 5.
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While yield-hungry investors of all stripes are viewing distributed, small-scale solar companies ever more favorably, the founders and management of the target companies are finding that there are attractive alternatives to selling stakes in their businesses outright.
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Residential solar finance company Sunrun is preparing a $312.4 million securitization deal backed by a portfolio of leases and power purchase agreements, marking the first time the issuer has tapped the ABS market twice in one year.
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Solar finance company Mill City completed a $217.89 million residential solar loan securitization on July 24, bringing year-to-date volume of solar ABS to over $1.3 billion.
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Residential PACE provider Renew Financial has promoted Mary Kathryn Lynch, who has worked in finance and capital markets at the company for about three-and-a-half years, to the position of CFO.
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Andy Redinger and Daniel Brown, managing directors at KeyBanc Capital Markets, discuss residential solar finance, including the latest trends in M&A and the future of the sector.
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