DEAL: Europe’s first certified green loan

Author: Lizzie Meager | Published: 17 Jan 2017

Strasser Capital has become the first in Europe to place a senior secured Climate Bond-certified green loan, opening a new market for financing sustainable projects.

The €30 million deal ($31.9 million) is secured by a high-quality granular portfolio of consumer leases held by its subsidiary MEP Werke, Germany’s biggest solar leasing company.

MEP Werke will use the proceeds to buy more solar panels
A 20-year maturity, a global first, is in place to match the length of the leases securing the transaction, which MEP Werke holds with homeowners as per the German renewable energy act. It’s also the first long-term financing for a European solar leasing company.

Clifford Chance partner Arne Klüwer, who advised the issuer, said the structure was designed to fit criteria for mobile leasing securitisations in a whole business securitisation context at the request of investors.

It’s not a...