Goldman Arranges Solar Bonds With Yield Around 1%: Japan Credit
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Goldman Sachs Group Inc. is arranging bonds to fund solar projects in Japan at cheaper rates than the cost to get similar loans from banks.
The U.S. lender is structuring the notes for an affiliate and other renewable energy companies including Japan Asia Group Ltd., a solar-project developer that owns a combined 33 megawatts of capacity at home and in Europe. JAG has sold about 6 billion yen ($56 million) of bonds that pay for facilities including two plants on the southern island of Kyushu. Notes backed by three projects carry an A grade from Rating & Investment Information Inc., the company said July 16.