By Lisa Kerner
Charlotte, N.C., June 8 – SolarCity Corp. priced a series of solar bonds to be sold through Incapital LLC from June 8 through June 15.
The bonds will be issued as follows, according to a filing with the Securities and Exchange Commission:
• $10 million of 2.65% solar bonds, series 2015/C46-3, due June 18, 2018;
• $10 million of 3.6% solar bonds, series 2015/C47-5, due June 18, 2020;
• $10 million of 4.7% solar bonds, series 2015/C48-10, due June 18, 2025; and
• $5 million of 5.45% solar bonds, series 2015/C49-15, due June 18, 2030.
Settlement is expected to occur on June 18.
Proceeds will be used for working capital and other general corporate purposes, including the financing of additional solar installations and/or financing potential acquisitions and strategic transactions, according to the filing.
Interest for all of the bonds will be paid semiannually in arrears on Feb. 15 and Aug. 15, beginning on Aug. 15.
San Mateo, Calif.-based SolarCity provides clean energy and financial products based on clean energy.
| Issuer: | SolarCity Corp.
|
| Issue: | Solar bonds
|
| Amount: | $35 million
|
| Agent: | Incapital LLC
|
| Offering begins: | June 8
|
| Offering ends: | June 15
|
| Settlement: | June 18
|
|
|
| Series 2015/C46-3
|
| Amount: | $10 million
|
| Coupon: | 2.65%
|
| Maturity: | June 18, 2018
|
|
|
| Series 2015/C47-5
|
| Amount: | $10 million
|
| Coupon: | 3.6%
|
| Maturity: | June 18, 2020
|
|
|
| Series 2015/C48-10
|
| Amount: | $10 million
|
| Coupon: | 4.7%
|
| Maturity: | June 18, 2025
|
|
|
| Series 2015/C49-15
|
| Amount: | $5 million
|
| Coupon: | 5.45%
|
| Maturity: | June 18, 2030
|
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