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Apollo-Backed SPAC Strikes Deal as Goldman Raises Bubble Concerns


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A special purpose acquisition company backed by Apollo Global Management has become one of the latest blank-check companies to announce a merger, providing details of the $1.3 billion deal just as Goldman Sachs Group warned of “bubble-like sentiment” in the SPAC market.
Apollo-sponsored blank-check company Spartan Acquisition Corp. II announced Monday that it has agreed to merge with solar financing business Sunlight Financial. The deal includes Chamath Palihapitiya, Coatue Management, and BlackRock as investors. When the merger is completed, the solar financing business will become a public company renamed Sunlight Financial Holdings. 
The deal follows a flurry of SPAC activity in the first weeks of 2021, with blank-check companies completing 56 initial public offerings to raise a total $16 billion in their pursuit of mergers, according to a Goldman portfolio strategy research report from the evening of January 22. Goldman called 2020 the “Year of the ....

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Hudson Sustainable Group Closes Inaugural Green Bond


Press release content from Business Wire. The AP news staff was not involved in its creation.
Hudson Sustainable Group Closes Inaugural Green Bond
January 21, 2021 GMT
NEW YORK (BUSINESS WIRE) Jan 21, 2021
Hudson Sustainable Group (Hudson) announced today that it has closed the firm’s inaugural green bond, with the issuance of US$96.8 million Investment-Grade rated fixed rate secured notes due in 2043. The assets underlying the notes are a portfolio of six operating solar PV facilities located in Uruguay, with a total generating capacity of 84.3 MWdc. These projects have long-term power purchase agreements with UTE, the Uruguayan state-owned power utility.
The green bond closed on December 22, 2020, clients of Allianz Global Investors participated as the sole noteholders in the offering. ....

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