Deals / 12 Dec 2025
Enpal: Public securitisation, €302.9m
Enpal closed 'Golden Ray 2', a public ABS of roughly 9,500 German solar and heat-pump loans, with M&G funds keeping the junior notes.
- Borrower
- Enpal, Germany · Energy finance
- Announced
- Facility
- Public securitisation · New
- Size
- €302.9m
- Funders
- Bank of America (arranger / lead manager)
- Barclays (arranger / lead manager)
- Citi (arranger / lead manager)
- Crédit Agricole CIB (arranger / lead manager)
- M&G (junior lender)
- Asset class
- Home solar and heat pumps
- Assets originated in
- Germany
- Notes
- Headline €300m; the release gives a €302.9m transaction total. About 25% of the pool is heat-pump loans.
- Source quality
- Confirmed: announced by the borrower or a funder itself. How we check
- Last checked
- 7 Nov 2026
Sources
- Enpal · primary · 12 Dec 2025
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