Mosaic settles $331 million securitization of residential solar loans

By Devika Patel

Knoxville, Tenn., April 1 – Mosaic completed a $331 million securitization for residential solar loans on March 10, according to a press release.

The offering was placed with 26 institutional investors.

The offering consists of four tranches of notes with weighted average lives ranging from 2.82 to 5.11 years.

The bonds are rated from AA- to BB- by Kroll Bond Rating Agency.

Deutsche Bank, Royal Bank of Canada and BNP Paribas were bookrunners.

Mosaic is an Oakland, Calif.-based based solar fintech company.

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