By Lisa Kerner
Charlotte, N.C., Jan. 22 – SolarCity Corp. completed a private placement of $185 million of class A notes in a private placement on Thursday.
The issue had a blended coupon interest rate of 5.17%, a blended yield rate of 5.81% and an anticipated repayment date of March 2022.
It was the company’s first securitization of distributed solar loan assets, and its fifth securitization transaction to date, according to a news release.
The notes received an investment grade rating of BBB from Standard & Poor’s and Kroll Bond Rating Agency.
Credit Suisse acted as the structuring agent and bookrunner for the transaction.
San Mateo, Calif.-based SolarCity provides clean energy and financial products based on clean energy.
| Issuer: | SolarCity Corp.
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| Issue: | Class A notes
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| Amount: | $185 million
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| Coupon: | 5.17% blended interest rate, 5.81% blended yield rate
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| Maturity: | March 2022
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| Distribution: | Private placement
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| Bookrunner: | Credit Suisse
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