By Lisa Kerner
Charlotte, N.C., March 23 – SolarCity Corp. priced an issue of a series of solar bonds to be sold through Incapital LLC from March 16 through March 23.
The bonds will be issued as follows, according to a filing with the Securities and Exchange Commission:
• $65,000 of 1.6% solar bonds, series 2015/C6-1, due March 26, 2016;
• $18,000 of 2.65% solar bonds, series 2015/C7-3, due March 26, 2018;
• $222,000 of 3.6% solar bonds, series 2015/C8-5, due March 26, 2020;
• $100,000 of 4.7% solar bonds, series 2015/C9-10, due March 26, 2025; and
• $260,000 of 5.45% solar bonds, series 2015/C10-15, due March 26, 2030.
SolarCity also announced it will offer a series of solar bonds, also through Incapital, from March 23 through March 30, according to an additional SEC filing.
The bonds will be issued as
• 1.6 % of solar bonds, series 2015/C11-1, due April 2, 2016;
• 2.65% of solar bonds, series 2015/C12-3, due April 2, 2018;
• 3.6% of solar bonds, series 2015/C13-5, due April 2, 2020;
• 4.7% of solar bonds, series 2015/C14-10, due April 2, 2025; and
• 5.45% of solar bonds, series 2015/C15-15, due April 2, 2030.
Interest on all the bonds will be paid semiannually in arrears on Feb. 15 and Aug. 15, beginning on Aug. 15.
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, the filings stated.
San Mateo, Calif.-based SolarCity provides clean energy and financial products based on clean energy.
| Issuer: | SolarCity Corp.
|
| Issue: | Solar bonds
|
| Agent: | Incapital LLC
|
| Offering begins: | March 16
|
| Offering ends: | March 30
|
|
|
| Series 2015/C6-1
|
| Amount: | $65,000
|
| Coupon: | 1.6%
|
| Maturity: | March 26, 2016
|
|
|
| Series 2015/C7-3
|
| Amount: | $18,000
|
| Coupon: | 2.65%
|
| Maturity: | March 16, 2018
|
|
|
| Series 2015/C8-5
|
| Amount: | $222,000
|
| Coupon: | 3.6%
|
| Maturity: | March 26, 2020
|
|
|
| Series 2015/C9-10
|
| Amount: | $100,000
|
| Coupon: | 4.7%
|
| Maturity: | March 26, 2025
|
|
|
| Series 2015/C10-15
|
| Amount: | $260,000
|
| Coupon: | 5.45%
|
| Maturity: | March 26, 2030
|
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