By Lisa Kerner
Charlotte, N.C., Jan. 29 – SolarCity Corp. began a sale of a series of solar bonds totaling $40 million.
The bonds will be issued as follows:
• $10 million of 2% solar bonds, series 2015/1-1, due 2016;
• $10 million of 2.5% solar bonds, series 2015/2-2, due 2017;
• $10 million of 3% solar bonds, series 2015/3-3, due 2018; and
• $10 million of 4% solar bonds, series 2015/4-7, due 2022.
The offer period for the bonds began Thursday and will run through April 30 unless otherwise terminated or all of the bonds are sold, according to SEC filings. Bonds will be issued in denominations of $1,000 and multiples of $1,000.
Interest will be paid semiannually in arrears on Feb. 15 and Aug., beginning on Feb. 15.
As previously reported, the company filed a registration statement with the Securities and Exchange Commission to initially issue up to $200 million of solar bonds. The company offered a series of bonds totaling $40 million in October.
San Mateo, Calif.-based SolarCity provides clean energy and financial products based on clean energy.
| Issuer: | SolarCity Corp.
|
| Issue: | Solar bonds
|
| Amount: | $40 million
|
| Offering period: | Jan. 29 to April 30
|
|
|
| Series 2015/1-1 bonds
|
| Amount: | $10 million
|
| Coupon: | 2%
|
| Maturity: | Jan. 29, 2016
|
|
|
| Series 2015/2-2 bonds
|
| Amount: | $10 million
|
| Coupon: | 2.5%
|
| Maturity: | Jan. 29, 2017
|
|
|
| Series 2014/3-3 bonds
|
| Amount: | $10 million
|
| Coupon: | 3%
|
| Maturity: | Jan. 29, 2018
|
|
|
| Series 2015/4-7 bonds
|
| Amount: | $10 million
|
| Coupon: | 4%
|
| Maturity: | Jan. 29, 2022
|
|
|
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