By Lisa Kerner
Charlotte, N.C., April 27 – SolarCity Corp. priced a series of solar bonds to be sold through Incapital LLC from April 27 through May 11.
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/C29-1, due May 14, 2016;
• $10 million of 2.65% solar bonds, series 2015/C30-3, due May 4, 2018;
• $10 million of 3.6% solar bonds, series 2015/C31-5, due May 14, 2020;
• $10 million of 4.7% solar bonds, series 2015/C32-10, due May 14, 2025; and
• $10 million of 5.45% solar bonds, series 2015/C33-15, due May 14, 2030.
Settlement is expected to occur on May 14.
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 filing.
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 begins: | April 27
|
| Offering ends: | May 11
|
| Settlement: | May 14
|
|
|
| Series 2015/C29-1
|
| Amount: | $3 million
|
| Coupon: | 1.6%
|
| Maturity: | May 14, 2016
|
|
|
| Series 2015/C30-3
|
| Amount: | $10 million
|
| Coupon: | 2.65%
|
| Maturity: | May 14, 2018
|
|
|
| Series 2015/C31-5
|
| Amount: | $10 million
|
| Coupon: | 3.6%
|
| Maturity: | May 14, 2020
|
|
|
| Series 2015/C32-10
|
| Amount: | $10 million
|
| Coupon: | 4.7%
|
| Maturity: | May 14, 2025
|
|
|
| Series 2015/C33-15
|
| Amount: | $10 million
|
| Coupon: | 5.45%
|
| Maturity: | May 14, 2030
|
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