SolarCity increases maximum size of credit facility, extends maturity

By Marisa Wong

Morgantown, W.Va., Dec. 15 – SolarCity Corp. amended its amended and restated credit agreement dated Nov. 1, 2013 to increase the maximum size of the facility to $500 million and extend the maturity date to Dec. 31, 2017, according to an 8-K filing with the Securities and Exchange Commission.

In addition, the company has secured an additional $65 million of commitments from two new banks, increasing total commitments under the facility to $398.5 million.

The company entered into the amendment on Monday.

Bank of America, NA is the administrative agent.

San Mateo, Calif.-based SolarCity provides clean energy and financial products based on clean energy.

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