By Lisa Kerner
Charlotte, N.C., May 1 – SolarCity Corp. priced a series of solar bonds to be sold from May 1through July 31.
The bonds will be issued as follows, according to a filing with the Securities and Exchange Commission:
• $2.5 million of 2% solar bonds, series 2015/9-1, due May 1, 2016;
• $10 million of 3% solar bonds, series 2015/10-3, due May 1, 2018;
• $10 million of 4% solar bonds, series 2015/11-5, due May 1, 2020;
• $10 million of 5% solar bonds, series 2015/12-10, due May 1, 2025; and
• $10 million of 5.75% solar bonds, series 2015/13-15, due May 1, 2030.
Interest will be paid semiannually in arrears on Feb. 15 and Aug. 15, beginning on Aug. 15, 2015.
The company will issue each of the offered series in denominations of $1,000 and multiples of $1,000, 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: | $42.5 million
|
| Agent: | Incapital LLC
|
| Offering begins: | May 1
|
| Offering ends: | July 31
|
|
|
| Series 2015/9-1
|
| Amount: | $2.5 million
|
| Coupon: | 2%
|
| Maturity: | May 1, 2016
|
|
|
| Series 2015/10-3
|
| Amount: | $10 million
|
| Coupon: | 3%
|
| Maturity: | May 1, 2018
|
|
|
| Series 2015/11-5
|
| Amount: | $10 million
|
| Coupon: | 4%
|
| Maturity: | May 1, 2020
|
|
|
| Series 2015/12-10
|
| Amount: | $10 million
|
| Coupon: | 5%
|
| Maturity: | May 1, 2025
|
|
|
| Series 2015/13-15
|
| Amount: | $10 million
|
| Coupon: | 5.75%
|
| Maturity: | May 1, 2030
|
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