The residential solar firm priced $267M in Class A-rated notes with a 20-basis-point improvement in credit spread.
Sunrun completed a $267M asset-backed securitization backed by residential solar leases and power purchase agreements. The Class A-rated notes carried a 6.28% coupon and a 6.33% yield, with a credit spread of 200 basis points.
The offering improved by 20 basis points compared to prior transactions, reflecting stronger investor demand. The notes were sold publicly, marking another step in the growing solar ABS market.
No immediate market reaction was disclosed, but the tighter spread signals confidence in solar-backed securities.