Herbert Smith Freehills Kramer closes $900 million solar securitization transaction

Herbert Smith Freehills Kramer represented the structuring agent and the initial purchasers in a $900 million capital markets securitization of solar assets acquired by affiliates of the Sponsor from a now insolvent entity in connection with bankruptcy proceedings. The notes were rated by Kroll Bond Rating Agency, LLC. The transaction closed on September 30, 2025.

The HSF Kramer team consisted of Securitization and structured finance partners Gilbert K.S. Liu and Daniel Michaelson, special counsel William Cavanagh and associates Shazia Ahmad and Vivian Zhang; Tax partner Pamela Capps and associate Mariya Khvatskaya; Executive compensation and incentives partner Marissa Holob and special counsel Avram J. Cahn; London partner Michael Poulton and associate Lauren Land; and Paris partner Vincent Hatton.