Ygrene Energy Fund Completes $150 Million Securitization of PACE Bonds Underscoring Investor Appetite for New Asset Class

Ygrene Energy Fund Inc., the leading provider of residential and commercial Property Assessed Clean Energy (PACE) financing, recently announced the completion of a $150 million private securitization transaction with a large insurance partner by issuing Class A notes rated AA by Kroll Bond Rating Agency with a 97% advance rate. The transaction represents a first in many ways for PACE. It is the first to combine both residential and commercial assets, the first to combine projects in multiple states including California and Florida, and the first to include both special taxes and assessments in a single securitization.

In partnership with local municipalities, Ygrene provides 100% financing for residential, commercial and agricultural property owners to deploy energy efficiency, renewable energy, and water conservation upgrades to their buildings. Currently approved in over 150 cities and counties across California, Florida and Georgia, Ygrene is the only multistate provider of PACE in the U.S. and the largest commercial PACE originator. Ygrene offers the only PACE program with repayment terms of up to 30 years, resulting in lower monthly payments and potentially making even the most expensive upgrades affordable.

This securitization will help fund 6,210 energy and water conservation projects, providing home and business owners with over $300 million in savings on energy and water bills, and eliminating over 180,000 metric tons of CO2 from the atmosphere.

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Date Posted: 8/11/2015