Mosaic completes $221 million solar loan securitization

Chicago, Oct. 20 – Mosaic completed its 11th solar loan securitization, according to an announcement on Wednesday.

The $221 million deal included 21 unique investors.

The weighted average cost on the green bond offering was 1.94% from four classes of notes.

Kroll ratings on the four classes started at AA- for the higher-grade notes and the lowest-ranking notes carried a BB- rating.

The 2021-3 transaction closed on Sept. 29.

Deutsche Bank was the structuring agent and bookrunner. Royal Bank of Canada and BNP Paribas were joint bookrunners.

Sustainalytics US, Inc. assessed the bonds as compliant with green bond principles.

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

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