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“We are pleased to continue to expand the set of investors in residential solar assets to enable
The securitization includes A- rated Class A notes in the amount of
The notes are backed by a diverse portfolio of 34,493 solar rooftop systems distributed across 19 states and 66 utility service territories. The weighted average customer FICO score is 734. The Class A notes initial balance represents a 72.3% advance rate relative to the aggregate discounted solar asset balance. The Class A notes were priced at a 5.55% yield with a 5.31% fixed coupon, reflecting a spread of 265 basis points over the benchmark swap rate at the time, providing a lower overall cost of capital over swap rates than Sunrun’s average. The transaction closed on
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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Source: Sunrun Inc.