SolarCity to issue additional solar bonds through Incapital

By Lisa Kerner

Charlotte, N.C., April 7 – SolarCity Corp. announced it will issue a series of solar bonds to be sold through Incapital LLC from April 6 through April 13.

The bonds will be issued as follows, according to a filing with the Securities and Exchange Commission:

• 1.6% solar bonds, series 2015/C21-1, due April 16, 2016;

• 2.65% solar bonds, series 2015/C22-3, due April 16, 2018;

• 3.6% solar bonds, series 2015/C23-5, due April 16, 2020;

• 4.7% solar bonds, series 2015/C24-10, due April 16, 2025; and

• 5.45% solar bonds, series 2015/C25-15, due April 16, 2030.

Settlement is expected to occur on April 16.

Interest will be paid semiannually in arrears on Feb. 15 and Aug. 15, beginning on Aug. 15, 2015.

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 preliminary pricing supplement.

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

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