to-the-point: SolarCity finalises USD-123.5m notes sale
SolarCity Corp (NASDAQ:SCTY) said on Thursday it has completed a distributed solar assets securitisation, which saw USD 123.5 million (EUR 110.8m) worth of notes be sold to qualified institutional buyers in the US.
The US residential solar firm offered USD 103.5 million aggregate principal amount of senior Class A Notes with an interest rate of 4.18% along with junior Class B Notes worth a total of USD 20 million and with an interest rate of 5.58%. Both classes of notes are due on February 21, 2022.
The Class A Notes have received an investment grade rating of A from Kroll, while the Class B Notes got a BBB rating from the same firm.