Mosaic Surpasses $ 5 Billion Loan to Finance Solar Power Construction and Residential Renovations

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Oakland, California., Jul 15, 2021 / PRNewswire / – Mosaic, the leading platform for financing solar and energy efficient housing projects in the United States, announced today that it has surpassed $ 5 billion in loans financed through the company’s platform. This announcement came just five months after the company announced that surpassed $ 4 billion in loans financed

“At a time when the country is experiencing record periods of heatwaves, droughts and power outages due to weather conditions, we know how important it is to make energy efficient home improvements affordable and affordable for homeowners,” he said. Billy Parish, founder and CEO of Mosaic. “It’s phenomenal that we were able to finance more than 1 billion dollars in loans for such a short period of time, which is a testament to our team and partners, as well as families who have decided to switch to clean energy. “

At the same time, the company also completed its tenth solar securitization – more than any other solar loan issuer in the sector. IN $ 191 million 14 unique investors took part in the securitization of solar loans.

“This is another record deal with a mixed value of 1.98% on bonds – the lowest of any solar residential loan securitization to date,” Parish said. “The financial markets continue to recognize solar loans as a strong asset class and reward Mosaic for its solid performance and underwriting discipline. Our low cost of funds allows us to offer some of the best rates in the industry, and our long history means we are able to deliver higher levels of approval to our clients while continuing to deliver consistently high asset performance. “

Mosaic Solar Loans 2021-2 deal closed June 25, 2021 and consisted of four classes of bonds rated from AA- to BB- by Kroll Bond with a weighted average maturity of 3.0 to 5.8 years. Royal Bank Canada was the structuring agent and bookrunner of Mosaic 2021-2, and Deutsche Bank and BNP Paribas were joint bookrunners. According to Sustainalytics US, Inc., bonds comply with the principles of green bonds.

This securitization follows but $ 331 million securitization of solar loans Mosaic closed in April 2021

A pioneer in solar and clean energy, Mosaic has helped over 160,000 homeowners transition to green home solutions. The company strives to make it as easy as possible for millions of people to get cleaner, more affordable energy for their homes and to reduce their environmental impact.

About mosaic
Mosaic makes financing for solar, solar, energy storage and other home improvements affordable and affordable for homeowners, providing borrowers with the easiest experience in the industry. Customers are guided by approved solar installers and home renovation contractors and can immediately apply for an interest-free loan with fixed interest rates and multiple maturity options. Funding requested and processed through the Mosaic platform comes from Solar Mosaic, Inc. or one of its lending / financing partners. For our network of hundreds of solar installers and home renovation contractors, Mosaic provides an optimized financing platform to drive sales growth. Since 2012, Mosaic has helped more than 160,000 households transition to green housing improvements through its financial products. For more information visit joinmosaic.com

SOURCE Mosaic

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https://www.joinmosaic.com/



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