Sunrun prices USD 267 million residential solar asset-backed securitization notes
RUN•Sunrun prices residential solar asset-backed securitization notes
Sunrun priced a USD 267 million securitization of residential solar leases, backed by Class A notes marketed in a public ABS deal.
- Class A notes priced with a 6.28% coupon, 6.33% yield, and 200 bp spread.
- Class B notes rated BB- were retained.
- The transaction is backed by 37,595 systems with a weighted-average customer FICO of 756.
- Expected closing is by end-August; optional redemption date is July 30, 2035; final maturity is Jan. 30, 2054.
