Thursday, January 23, 2014

NEW YORK: Kilowatt Financial Announces Debt Facility with Citi to Finance Energy Efficiency Loans | Business Press Releases | Fort Mill Times

With facility proceeds, Kilowatt will enable homeowners throughout the United States to make energy efficient improvements to their homes through 10-12 year unsecured loans of up to $30,000. Homeowners can use the funds for a broad range of improvements, including HVAC equipment, water heaters, windows, roofing, insulation, lighting, and energy efficient appliances. The landmark transaction is designed to facilitate a securitization of the pool of loans into the capital markets, and thereby help establish a secondary market and scale energy efficiency activity. Kilowatt and Citi expect to create term asset-backed securities from the loans, making more capital available for additional homeowners to upgrade their homes.

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