SolarCity unit to issue $123.5 million of solar asset-backed notes

By Lisa Kerner

Charlotte, N.C., July 28 – SolarCity Corp. subsidiary SolarCity LMC Series IV, LLC intends to offer $123.5 million of series 2015-1 solar asset-backed notes due Feb. 21, 2022 in a private placement to U.S. qualified institutional buyers in a Rule 144A and Regulation S deal.

These notes will be secured by the membership interests that will be owned by SolarCity LMC Series IV, LLC in certain indirectly owned subsidiaries of SolarCity Corp., according to a news release.

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

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