Green bonds

The single-family rental industry is slowly making its homes more energy-efficient. About 21% of total US energy consumption last year came from residential energy use.

A growing chorus of auditors, researchers and climate activists warn that the numbers provided by bankers offer an exaggerated picture of their role in fighting climate change.

Citigroup Global Markets is lead underwriter on the fourth issuance through Toyota’s ABS Green Bond program. The deal references two potential pools to be securitized.

JPMorgan Chase and Loop Capital Markets have submitted pitches suggesting ways to structure $1 billion of bonds that Governor Gavin Newsom proposed to build vehicle charging stations

Issuance of securitizations backed by these loans is becoming more dependable, and Fannie will need more mortgages that finance newly-built energy-efficient homes to keep it going.

The European Union's first social bond sale, totaling 17 billion euros, was 14 times oversubscribed, meaning the EU could have sold 200 billion euros worth of bonds. That indicates a market that’s structurally underserved.

After receiving a third-party stamp of approval, Fannie Mae announced July 27 completing the latest two issuances of a single-family green mortgage backed security as part of an ongoing program that started in April and expands its long-time multi-family green MBS program.

Recent good fortunes for lenders such as Loanpal and Sunnova reflect what will could be a solid year for solar-panel loan originations and securitizations, despite the economic impact of the coraonvirus pandemic on markets and consumer spending.

PACE Funding Group, based in Los Gatos, Calif., recently obtained a $55 million line of credit from SunTrust Bank and Rosemawr Management and is gearing up for its second securitization later this year.

The New York State Energy Research and Development Authority is marketing its fifth transaction financing local residential solar-panel installations; all of the notes carry an A rating from Kroll.

The single-B rated company is facing a large cash requirement as it ramps up production of its Model 3; but leases backed by electric vehicles pose additional risks for investors in asset-backeds.

HUD's decision to stop endorsing Property Assessed Clean Energy will have little impact; the widest segment of FHA borrowers "would not qualify anyway."

The new deal is smaller, at $130.1 million, and the collateral is almost entirely of PV systems financed through third-party loan agreements.

The $75 million deal is backed by financing for a variety of property types, including office buildings, manufacturing facilities and hospitals; it was privately placed with TIAA Investments.

Cisco DeVries, the chief executive of Renew Financial, said the bills will bring much-needed stability to Property Assessed Clean Energy, which uses a property assessment to finance upgrades.

It's the sponsor's first securitization to be rated by Morningstar; DBRS and Kroll Bond Rating Agency are still capping their ratings of Property Assessed Clean Energy bonds at double-A.

The director of the Hawaii Green Infrastructure Authority is trying to put its bond money to work.