Esoteric

The Show Me State passed legislation enabling residential and commercial PACE financing in 2010; however, Renovate America only started funding assessments through the Missouri Clean Energy District three months ago, in August 2017.

The move convinced Kroll Bond Rating Agency to upgrade $95 million of securities, some of which had been under review for a possible downgrade for over a year; Kroll affirmed the ratings of another $63 million of bonds.

The deal could put downward pressure on market lease rates and renewals in wireless tower ABS portfolios serviced by Crown Castle, American Tower, and SBA Communications.

For the first time in five years, MassMutual has a second securitization within a calendar year backed by loans and leases to large corporates, including federal government agencies.

The deal, DLL Securitization Trust 2017-A, is unusual in that it is backed almost entirely by agricultural equipment; other lessors such as CNH and John Deere securitize a mix of agricultural and construction equipment.

The $480 million transaction is backed by 19 primarily narrowbody aircraft with a weighted average life of 7.2 years on lease to 17 lessees located in 14 countries.

The $300 million deal is a first for the Swedish manufacturer. Nissan also plans to issue as much as $1.25 billion of retail auto dealer floorplan notes.

In addition to insurance premiums, borrowers in the pool use the loans for annual membership fees of sport or leisure facilities or professional bodies.

While the company still relies heavily on sales of solar panels, these purchases are now funded by third-party lenders, rather than in-house.

The latest deal features slightly higher exposure to Florida, where Renew has not been operating as long as it has in California.