Press Release

SAN FRANCISCO, Nov. 18, 2021 /PRNewswire/ -- GoodLeap, America's leading digital marketplace for sustainable solutions, today announced the closing of GoodLeap Sustainable Home Solutions Trust 2021-5, an asset-backed securities ("ABS") transaction sponsored by Lime Residential, Ltd. (a Credit Suisse affiliate). The securitization is backed by approximately $358.9 million of residential solar and home efficiency loans originated on the GoodLeap platform. In a first for the residential solar and home efficiency ABS markets, the securitization was rated by three rating agencies: S&P Global Ratings, Fitch Ratings and Kroll Bond Rating Agency, with this marking the inaugural rating from Fitch Ratings in this asset class. Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC were joint bookrunners on the transaction.

"Technology innovation has unlocked access to a wide variety of sustainable home solutions. A key to addressing climate change is to ensure there is enough capital available to accelerate the adoption of these technologies," said Tanguy Serra, GoodLeap's President and Chief Investment Officer. "With ratings from major agencies Fitch and S&P, this latest securitization will play a role in facilitating the $10 trillion of investment needed to achieve net zero emissions in the United States."

Sustainable home upgrades represent an estimated $430 billion annual market opportunity in the United States. GoodLeap leverages its deep expertise in technology and data to make these sustainable home upgrades more accessible for homeowners who are looking to have a positive impact on the planet. GoodLeap's proprietary technology platform is accessed by more than 18,000 sales professionals at the point-of-sale, creating an efficient option for financial institutions to deploy their capital in high-performing environmental, social and governance (ESG) assets. GoodLeap has deployed more than $9 billion of solar loans and other home efficiency loans through its platform since 2018.

There have been eleven securitizations of loans originated on the GoodLeap platform totaling $3.8 billion, with over half of the securitized volume happening in 2021 alone.

"We are pleased to sponsor another successful securitization of GoodLeap. This transaction will help the company in achieving a low cost of funding and continues our track record of developing the institutional capital markets for renewable energy and efficiency assets, in line with Credit Suisse's commitment to support sustainability," said Spencer Hunsberger, Managing Director in Securitized Products Finance at Credit Suisse.

This securitization, sponsored by Lime Residential, Ltd., consists of a total of $302.4 million of notes rated by Fitch Ratings, S&P Global Ratings and Kroll Bond Rating Agency. The notes are backed by $358.9 million of principal balance of loans with a weighted average note rate of 2.43%. At the time of origination, the weighted average FICO® score of the loans was 740. All tranches of the transaction were multiple times oversubscribed.

About GoodLeap

GoodLeap is a technology company delivering best-in-class financing and software products for sustainable solutions, from solar panels and batteries to energy-efficient HVAC, heat pumps, roofing, windows, and more. Over 1 million homeowners have benefited from our simple, fast, and frictionless technology that makes the adoption of these products more affordable, accessible, and easier to understand. Thousands of professionals deploying home efficiency and solar solutions rely on GoodLeap's proprietary, AI-powered applications and developer tools to drive more transparent customer communication, deeper business intelligence, and streamlined payment and operations. Our platform has led to more than $27 billion in financing for sustainable solutions since 2018.

GoodLeap is also proud to support our award-winning nonprofit, GivePower, which is building and deploying life-saving water and clean electricity systems, changing the lives of more than 1.6 million people across Africa, Asia, and South America.

Contact: press@goodleap.com