Solar Securitization Deals Picking Up, Poised to Top 2014 Record
- About $235 million of solar ABS deals closed so far this year
- SolarCity, Sunrun only companies to arrange solar ABS deals
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SolarCity Corp., the biggest U.S. rooftop solar company, has raised more in the asset-backed securities market this year than the industry completed in all of 2015, and developers are poised to exceed the record set in 2014.
SolarCity sold $235 million of solar-power bonds in two deals this year, according to a report Monday by Marathon Capital LLC. That’s more than the $234 million total for last year, when the company was joined by Sunrun Inc. SolarCity raised in 2014 about $272 million in debt backed by long-term receivables from rooftop leases and installment financing.