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Sunrun gets $886.3M in record securitization deal for solar industry (NASDAQ:RUN) - Seeking Alpha

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Sunrun gets $886.3M in record securitization deal for solar industry (NASDAQ:RUN) | Seeking Alpha
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Sunrun (NASDAQ: RUN) +1.4% pre-market Wednesday after saying it priced a $886.3M securitization of leases and power purchase agreements, which it said is the largest-ever for the company and the solar industry.

The transaction includes two $443.15M tranches of Class A+ rated notes, one marketed in a public asset backed securitization and the other privately placed, as well as a single class of BB rated notes.

The notes are backed by a diversified portfolio of 48,628 systems distributed across 19 states plus Washington D.C. and Puerto Rico, as well as 79 utility service territories.

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Related Knowledge Center: ENERGY BASICS: solar

State of Play

Declining costs and government encouragement have resulted in a rapid increase in solar energy production in the United States over the past 10 years, although solar’s share remains small: 1.6 percent of all electricity generation in 2018. That rapid growth is projected to continue.

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