By Lisa Kerner
Charlotte, N.C., April 13 – SolarCity Corp. priced its previously announced issue of a series of solar bonds to be sold through Incapital LLC from April 6 through April 20.
The bonds will be issued as follows, according to a filing with the Securities and Exchange Commission:
• $3 million of 1.6% solar bonds, series 2015/C21-1, due April 23, 2016;
• $10 million of 2.65% solar bonds, series 2015/C22-3, due April 23, 2018;
• $10 million of 3.6% solar bonds, series 2015/C23-5, due April 23, 2020;
• $10 million of 4.7% solar bonds, series 2015/C24-10, due April 23, 2025; and
• $10 million of 5.45% solar bonds, series 2015/C25-15, due April 23, 2030.
Settlement is now expected to occur on April 23.
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.
| Issuer: | SolarCity Corp.
|
| Issue: | Solar bonds
|
| Amount: | $43 million
|
| Agent: | Incapital LLC
|
| Offering began: | April 6
|
| Offering ends: | April 20
|
| Settlement: | April 23
|
|
|
| Series 2015/C21-1
|
| Amount: | $3 million
|
| Coupon: | 1.6%
|
| Maturity: | April 23, 2016
|
|
|
| Series 2015/C22-3
|
| Amount: | $10 million
|
| Coupon: | 2.65%
|
| Maturity: | April 23, 2018
|
|
|
| Series 2015/C23-5
|
| Amount: | $10 million
|
| Coupon: | 3.6%
|
| Maturity: | April 23, 2020
|
|
|
| Series 2015/C24-10
|
| Amount: | $10 million
|
| Coupon: | 4.7%
|
| Maturity: | April 23, 2025
|
|
|
| Series 2015/C25-15
|
| Amount: | $10 million
|
| Coupon: | 5.45%
|
| Maturity: | April 23, 2030
|
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