Dividend Finance Inc ("Dividend" or the "Company"), a leading specialty finance and consumer lender for residential solar energy systems, home energy-related improvements and Property Assessed Clean Energy ("PACE") programs, was named as the recipient of GlobalCapital magazine's "Esoteric ABS Deal of the Year" at the publication's fifth annual US securitization awards dinner held on May 30 in New York City.
The $128,950,000 Dividend Solar Loan Backed Notes, Series 2017-1 transaction was Dividend's inaugural asset-backed securitization and closed in October 2017 with Credit Suisse Securities (USA) LLC acting as sole structuring agent and bookrunner. Kroll Bond Rating Agency, Inc. rated the Series 2017-1 Notes, which also received "Green Bond" designations from Sustainalytics pursuant to the standards of the International Capital Market Association.
"Dividend is honored to have been recognized by our capital markets peers," said Eric White, Dividend's CEO. "This award affirms the success and importance of our securitization program, not only for the Company but for the overall residential energy finance sector."
The award was the result of nearly 1,000 votes cast by structured finance market participants following a six week nomination period.
In April of this year, Dividend issued the second securitization of its EmpowerLoan™ portfolio, a $104,664,000 transaction secured by residential rooftop solar energy systems.Read on BusinessWire