Sunrun, a US-based residential solar and battery storage provider, announced the pricing of its fifteenth securitization since 2015 and fifth in 2025. The transaction included $260 million Class A-1 Notes marketed publicly and $250 million Class A-2 Notes privately placed, both rated A- and carrying a 6.15% coupon. The Class A Notes represented a 69% advance rate on the securitization share of ADSAB, with a weighted average life of 6.93 years and maturity in 2061. A BB rated Class B tranche was retained. The notes were backed by 29,929 systems across 19 states, Washington D.C., and Puerto Rico. The deal was expected to close by September 23, 2025, with Deutsche Bank as structuring agent and joint bookrunner with several banks. Sunrun previously priced a $441 million securitization in August 2025 and a $431 million transaction in July 2025.Prior to this, Sunrun financed residential solar assets through a $431 million bond offering, expanding its securitization portfolio.
Sunrun priced securitization with Deutsche Bank in US
Sunrun priced its fifteenth securitization backed by 29,929 systems, with Deutsche Bank, J.P. Morgan, Morgan Stanley, MUFG and RBC Capital Markets.
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