Daily News: July 20, 2018

Natixis, SunTrust, Others Upsize Ygrene Facility to $510MM

Ygrene increased its warehouse credit facility to $510 million and added Natixis as a new member of its lending syndicate. Natixis joins existing lenders Deutsche Bank, SunTrust Robinson Humphrey, Nomura Corporate Funding Americas and CIT Bank, diversifying the lending base.

“Teaming with Natixis will increase Ygrene’s ability to deliver quality PACE financing and strengthen communities across the country,” said Tim Condon, CFO at Ygrene. “With a cadre of sound investors, Ygrene not only diversifies its lending capacity, but broadens its mission to help more homeowners make critical improvements to their property, invest in their futures and improve our environment.”

“Natixis is committed to supporting environmentally and socially responsible finance companies on a global basis, and we have been actively involved in the PACE market for the past several years. The management team at Ygrene has developed a strong internal underwriting culture focused on consumer protection and financial transparency, and we are thrilled to have the opportunity to work with and support a leader in this growing space” said Matt Zola, head of Fixed Incomes, Americas at Natixis.

Founded in 2010, Ygrene provides residential and commercial energy efficiency and resiliency project financing, primarily through its award-winning, privately-funded Property Assessed Clean Energy (PACE) program.