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Sunrun raises US$510 million in securitisation
['Shreeyashi Ojha']
PV Tech
Full premium access for the first month at only $1According to the company, the securitisation comprises two A-rated tranches of equal footing – pari passu – totalling US$510 million and a retained BB-rated tranche.
The US$260 million Class A-1 Notes were publicly marketed, while the US$250 million Class A-2 Notes were privately placed.
Additionally, Sunrun has secured a commitment from a global asset manager for additional subordinated non-recourse financing tied to retained Class B Notes, boosting its cumulative advance rate.
The previous month, the company priced a US$431 million public securitisation with a 240 basis points (bps) spread and 6.374% yield.
Recently, Sunrun reported Q2 2025 revenue of US$569.3 million, up 9% year-on-year, driven by an 18% rise in customer agreements and incentives to US$458 million, while product sales fell 18% to US$111.3 million.
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