SAN FRANCISCO, March 31, 2021 / PRNewswire / – Loanpal, the nation’s # 1 point-of-sale technology platform for sustainable home solutions, today announced that Goldman Sachs, sponsored by Loanpal Solar Loan 2021-2 Ltd. and Loanpal Solar Loan 2021-2 LLC, have concluded a securitization of approximately $ 421 million value of residential solar loans from the Loanpal platform and previously purchased by Goldman Sachs, GoodFinch, Blackstone Credit and Davidson Kempner Capital Management LP. The senior securitization tranche was valued at 115bp on the swaps, which marks it as the lowest spread to date on a tranche of loans issued by Loanpal and the lowest spread ever issued on a WAL solar bond of 3 years and over. Goldman Sachs & Co. LLC and Credit Suisse acted as associate bookkeepers in connection with the securitization.
“We are delighted to announce the second Loanpal loan securitization in 2021 and proud to expand access to sustainable home renovations that improve lives, create jobs and benefit society, while providing attractive returns and business growth to our partners, “said Loanpal President and Chief Investment Officer Tanguy Serra. “Our continued education efforts have led to substantial demand in a crowded market, which has enabled over 25 unique investors to participate in this transaction with 2X underwriting across all classes of securitization.
Loanpal leverages its deep expertise in technology and data to make sustainable renovation products more accessible to homeowners looking to make a positive impact on the planet. Loanpal’s proprietary technology platform is accessed by over 12,000 point-of-sale sales professionals, creating a highly efficient, best-in-class channel for financial institutions to deploy their capital in ESG assets. Loanpal works with credit unions, insurance companies, banks and asset managers and has provided over $ 6 billion in solar and other home efficiency loans through its platform since 2018, enabling more than 185,000 families to take actions that reduce their carbon footprint.
This securitization, sponsored by Goldman Sachs, consists of a total of $ 343.4 million three classes of banknotes rated by Kroll Bond Rating Agency. The weighted average coupon rate on the rated notes is 2.39%. At inception, the weighted average FICO loan score was 744.
“This latest clean energy securitization provides better investor access to the sustainable investment market and we look forward to the continued success of this asset class as it matures,” said Katrina Niehaus, Head of Corporate Structured Finance Investment Banking at Goldman Sachs.
Loanpal is the nation’s number one point-of-sale technology platform for sustainable home solutions that enables a simple, fast and frictionless experience. Loanpal’s proprietary technology platform is accessed by over 12,000 sales professionals and has deployed over $ 6 billion of capital for solar products and other sustainable renovation products since 2018, enabling more than 185,000 families to live more sustainable lifestyles. Loanpal is a proud partner of GivePower, a 501c3 company, whose mission is to build and deploy clean water and solar power systems for communities in need around the world. To learn more about Loanpal, visit, follow and contact us at borrpal.com, @loanpal, and LinkedIn.