PETALUMA, Calif.--(BUSINESS WIRE)--Ygrene Energy Fund, a leading national provider of residential, commercial and multifamily PACE (property assessed clean energy) financing, was recognized today as “Esoteric ABS Issuer of the Year” by GlobalCapital’s U.S. Securitization Awards. The publication, a leader in capital markets news and analysis, further recognized Ygrene’s GoodGreen 2016-1 security as “Esoteric ABS Deal of the Year,” highlighting the first-of-its-kind, AAA-rated, Green Bond-certified PACE securities as unique within the industry.
“With these two awards, we are honored to be recognized by GlobalCapital,” said Rocco Fabiano, CEO of Ygrene Energy Fund. “At Ygrene, we are committed to building our PACE program, so that every homeowner can gain access to affordable, eligible home improvements. The PACE industry has reached a critical growth inflection point, and we are encouraged by continued mainstream interest. As demand continues to grow, we remain dedicated to providing the highest quality of consumer protection and overall excellence in service.”
The two awards come on the heels of Ygrene’s latest publicly-rated securitization, which was the company’s first in 2017. This security totaled $176.5 million, with the ‘A’ notes rated AAA/AA and the ‘B’ notes A/A, by Morningstar and Kroll, respectively. Based on its reputation for transparency, asset diversity, and high quality underwriting, Ygrene also recently announced the expansion of its credit facility to $410 million.
Kevin Dougherty, US Publisher of GlobalCapital, commented, “At GlobalCapital, we are constantly on the look-out for the most innovative financing mechanisms and those that are at the center of investor conversations. Ygrene is setting the standard for this fast-growing sector of consumer financing and we all look forward to its continued growth.”
Following months of public voting, peer review amongst investors and extensive analysis by the GlobalCapital editorial team, Ygrene Energy Fund was selected to join past winners in the ABS category, which includes such companies as Ford Motor Credit, Toyota, and Barclays. Ygrene is the first PACE provider to ever receive this type of recognition.
“We look forward to bringing homeowners the highest standards in financing for the variety of improvement projects that increase energy efficiency,” said Fabiano.
About Ygrene Energy Fund
Ygrene Energy Fund is a leading national provider of residential, multifamily and commercial property assessed clean energy financing. The award-winning, privately-funded YgreneWorks program provides financing for energy efficiency, renewables and water conservation as well as, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades. Ygrene is committed to making it easy for property owners to invest in their future and in a healthier environment. The YgreneWorks program creates jobs by investing in local communities and enabling state governments to achieve policy objectives. Learn more at ygreneworks.com.