By Lisa Kerner
Charlotte, N.C., May 11 – SolarCity Corp. priced a series of solar bonds to be sold through Incapital LLC from May 11 through May 18.
The bonds will be issued as follows, according to a filing with the Securities and Exchange Commission:
• $10 million of 2.65% solar bonds, series 2015/34-3, due May 21, 2018;
• $10 million of 3.6% solar bonds, series 2015/35-5, due May 21, 2020;
• $10 million of 4.7% solar bonds, series 2015/36-10, due May 21, 2025; and
• $10 million of 5.45% solar bonds, series 2015/37-15, due May 21, 2030; and
Settlement is expected to occur on May 21.
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
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| Amount: | $40 million
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| Agent: | Incapital LLC
|
| Offering begins: | May 11
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| Offering ends: | May 18
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| Settlement: | May 21
|
|
|
| Series 2015/C34-3
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| Amount: | $10 million
|
| Coupon: | 2.65%
|
| Maturity: | May 21, 2018
|
|
|
| Series 2015/C35-5
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| Amount: | $10 million
|
| Coupon: | 3.6%
|
| Maturity: | May 21, 2020
|
|
|
| Series 2015/C36-10
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| Amount: | $10 million
|
| Coupon: | 4.7%
|
| Maturity: | May 21, 2025
|
|
|
| Series 2015/C37-15
|
| Amount: | $10 million
|
| Coupon: | 5.45%
|
| Maturity: | May 14, 2030
|
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