Daily News: October 12, 2018

ING Provides $25MM Facility to Petros

ING Capital closed a $25 million credit facility with Petros PACE Finance, the leading Commercial Property Assessed Clean Energy (C-PACE) lender in the U.S.

The facility has a unique structure which enables Petros to aggregate assets and dovetails seamlessly with secondary market permanent financing solutions. The facility will support the continued growth of Petros’ programs while bolstering its liquidity position and financing base.

“The C-PACE market continues to grow by leaps and bounds, and this credit facility provides us the flexibility and liquidity to extend our financing solutions to the market. This facility enables that increased efficiency,” said Jim Stanislaus, co-founder and CFO, Petros PACE Finance.

Sustainable financing initiatives remains a strong priority for ING, and the addition of Petros to its client portfolio further strengthens its commitment to PACE and environmentally friendly initiatives. This is ING’s fourth PACE-related credit facility in recent months.