Sunrun Bacchus Issuer 2025-1 — $629M securitization of 39,458 residential solar leases/PPAs
Sunrun's 13th securitization and first of 2025. Second-largest in industry history. Three classes of A-rated notes ($102M A-1 public + $276.5M A-2A public + $250M A-2B private) plus BB retained Class B.
$629M
Deal Value
Solar
Technology
Multi-state
Location
Deal Details
- Deal Type
- Corporate Debt & Capital Markets
- Seller / Sponsor
- Sunrun
- Buyer / Financier
- ATLAS SP Partners (structuring agent)
- Deal Value
- $629M
- Stage
- Operating
- ISO/RTO
- Multiple
Capital Structure
$629M
Total transaction value
Tranches
- Class A-1 Senior Notes · Sunrun Bacchus Issuer 2025-1; ATLAS SP Partners structuring agent
- $102M
- Class A-2A Senior Notes · Sunrun Bacchus Issuer 2025-1; ATLAS SP Partners structuring agent
- $277M
- Class A-2B Senior Notes (private placement) · Sunrun Bacchus Issuer 2025-1; ATLAS SP Partners structuring agent
- $250M
Service Providers
Advisory & Legal
- structuringAgent
- ATLAS SP Partners
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Sunrun Xanadu 2019-1 — $204M residential solar lease/PPA ABS
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Capital Dynamics
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Leadership at the Counterparties
Recent executive moves at the firms named in this deal.
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