16.08.15

SolarCity: Securitization offering completed

SolarCity hat wie angekündigt bei institutionellen Investoren Schuldverschreibungen im Umfang von 103,5 Millionen Euro platziert (mehr über die Hintergründe erfahren Sie  hier). Wir veröffentlichen die Mitteilung der US-amerikanischen Spezialistin für Aufdach-Solaranlagen dazu im Wortlaut.

Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen. 

SAN MATEO, California - SolarCity Corp. (Nasdaq: SCTY) completed its Solar Asset Backed Notes, Series 2015-1, a securitization of distributed solar energy assets. The notes consist of a senior class of notes (Class A Notes) in an amount of $103,500,000 aggregate principal amount that will have an interest rate of 4.18% The junior class of notes (Class B Notes) consists of $20,000,000 aggregate principal amount that will have an interest rate of 5.58%. Both classes of notes have an anticipated repayment date of February 21, 2022.

SolarCity's senior class of notes (Class A Notes) received an investment grade rating of A from Kroll and junior class of the notes (Class B Notes) received a rating of BBB from Kroll. The rating reflects the predictability and quality of the cash flows and the minimal operation and production risk of solar assets. Distributed solar is one of the first new asset classes to achieve an investment grade rating in the asset back securities markets in the past several years.

This transaction represents the first securitization of distributed solar assets that were originally financed within a tax equity partnership structure, a significant development given the prevalence of partnership structures in the solar industry. Though it has securitized a relatively small percentage of its total assets to date, SolarCity has now completed at least one syndication of each of its most common financing structures with an investment grade credit rating.

The Co-Structuring Agents and Joint Bookrunners were Bank of America Merrill Lynch and Credit Suisse and the Co-Manager was Apto Partners, which is a minority owner-dealer based in New Jersey. Inspired by the supplier diversity program at the California Public Utility Commission, SolarCity worked with DBL Partners to find and collaborate with Apto and give a broader range of investors and advisors the opportunity to participate in solar financing.  


About SolarCity
SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. Visit the company online at www.solarcity.com
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