Energy Efficient Equity (E3) Closes Inaugural $169 million ABS Transaction in Collaboration with Natixis
On June 28, 2019 Energy Efficient Equity, Inc. (“E3” or the “Company”), a specialty finance company focused on the origination of Property Assessed Clean Energy (“PACE”) assets, closed its inaugural term securitization transaction, E3 2019-1. The approximately $169 million issuance was secured by residential and commercial PACE assets originated primarily under the California Municipal Finance Authority’s PACE program, where E3 acts as program administrator. PACE allows property owners to finance up to 100% of the cost of permanent property improvements that meet standards for energy efficiency, water efficiency, renewable energy, and seismic stability through a voluntary tax assessment on their properties. Natixis Securities Americas LLC acted as Sole Structuring Agent and Sole Bookrunner on the transaction.
Energy Efficient Equity, Inc., known as E3, is a growing specialty lender providing secured financing in the Property Assessed Clean Energy (PACE) for both residential and commercial properties. PACE refers to state-authorized programs operated at the city and county levels to finance permanent energy efficient property upgrades such as solar, HVAC, windows, and roofing via a voluntary property tax assessment. Founded in 2015, E3 has grown to become a leading player in the PACE space behind a seasoned management team with extensive specialty finance experience.
Press Relations, Natixis
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Los Gatos, Californie, États-Unis, October 23, 2018