Citi and Renew Financial today announced that they recently closed the first ever asset-backed security (ABS) transaction comprised of unsecured consumer energy efficiency loans. This is good news for Kentucky homeowners who need to make energy efficient improvements to their homes. The landmark transaction – in which Renew Financial and Citi issued $12.58 million in securities – creates a new asset class in the form of ABS backed by pools of residential energy efficiency loans.
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