21st July 2024

Sunrun, a supplier of residential photo voltaic, storage and power companies, has closed the securitization of leases and energy buy agreements, often called Sunrun’s solar-as-a-service providing, and raised further subordinated non-recourse financing.

“We’re happy with Sunrun’s record-setting transaction, putting the most important ever residential photo voltaic securitization for the trade and subsequently elevating further non-recourse financings,” says Danny Abajian, Sunrun’s CFO.

“Sunrun’s execution demonstrates our non-recourse, asset stage financing technique gives enticing capital to gas development, with robust advance charges, permitting unit-level money era over time with out rising leverage on the dad or mum stage.”

Much like prior transactions, Sunrun raised an extra subordinated subsidiary-level non-recourse financing totaling $253 million after the securitization transaction closed, which elevated the cumulative advance charge obtained by Sunrun.

Deutsche Financial institution Securities was the only structuring agent and served as joint bookrunner together with Atlas SP Securities, BofA Securities and MUFG Securities Americas. Citigroup World Markets, Credit score Agricole Securities, ING Monetary Markets, J.P. Morgan Securities, SG Americas Securities, TD Securities and Truist Securities served as co-managers for the securitization.

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