Hanwha Q cells’ US subsidiary EnFin raises $321 mn through ABS

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Hanwha Q cells’ US subsidiary EnFin raises $321 mn through ABS - Korea Economic Daily

Quick Summary:

Hanwha Q Cells Co., the solar power unit of South Korea’s chemicals-to-defense conglomerate Hanwha Group known as Qcells in overseas markets, said on Friday its US residential solar financing subsidiary EnFin has raised $325 million by selling its asset-backed securities (ABS).

Since its launch in January last year, EnFin has recorded 22,000 cumulative contracts for solar installment financing services through last month, with the total contract value reaching $1 billion.

EnFin issued its ABS worth $250 million (350 billion won) in April, and with this second issuance, it has now raised a total of $575 million (805 billion won).