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SolarCity confirms US$201.5 million securitisation

  • SolarCity.
    SolarCity's third securitisation deal approaches a sub-4% interest rate. Source: SolarCity.

SolarCity has confirmed details of a new US$201.5 million financing round secured against the revenues from a pool of smaller PV systems.

The company pulled off the first deal with securitisation against residential PV installs in November 2013. It followed that US$54 million round with a second US$70 million issue in April 2014.

The latest round will include US$160 million of notes with an interest rate of 4.026% and US$41.5 million with an interest rate of 5.45%.

The first deal had an interest rate of 4.8% suggesting that there is increasing confidence in the model driving down the interest rate.


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    Forecasting the evolution of a young, dynamic industry is by definition an uncertain business, and solar is no exception. Rarely, if ever, do the numbers broadcast by any of the various bodies involved in the PV prediction game tally, and even historical deployment rates remain the subject of hot debate. The paradox is that getting forecasts broadly right is going to become increasingly important over the next few years, particularly for those involved in producing the equipment that will support whatever levels of demand come to pass.



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