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Mayer Brown advises initial purchasers in breakthrough solar asset-backed notes offering

19 August 2015

Mayer Brown advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC as initial purchasers on an offering of $123 million of solar asset-backed notes of SolarCity LMC Series IV, LLC. The collateral included membership interests in four separate SolarCity financing funds, each also backed by a tax equity investor.

This breakthrough transaction provides a new way for solar finance assets previously tied up by tax-driven partnership flip structures to be monetized through asset-backed securities.

The Mayer Brown team was led by Banking & Finance partners Carol Hitselberger (Charlotte) and Stuart Litwin (Chicago) and included Tax Transactions & Consulting partners Jeffrey Davis (Washington DC) and Michael Marion (New York); and Banking & Finance associates Melissa Kilcoyne, Nadav Klugman and William Dunn (all Chicago).

Related Information

  • Related People
    Carol A. Hitselberger
    T +1 704 444 3522
    Stuart M. Litwin
    T +1 312 701 7373
    Jeffrey G. Davis
    T +1 202 263 3390
    Michael K. Marion
    T +1 212 506 2651
    Melissa L. Kilcoyne
    T +1 312 701 7617
    Nadav C. Klugman
    T +1 312 701 8433
    William H. Dunn
    T +1 312 701 7283

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