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.
 

Next Generation Solar PV Finance

PV-Tech Storage Promo

Newsletter

Preview Latest
Subscribe
We won't share your details - promise!
Next Generation Solar PV Finance

Publications

  • Photovoltaics International 24th Edition

    Signs earlier in the year of the global industry entering a growth phase have now been confirmed beyond any doubt. Almost all the big-name suppliers have now announced some form of manufacturing capacity expansion, a trend that analysts agree will only gather pace as long as the levels of demand predicted over the next few years turn out to be correct.

  • Manufacturing The Solar Future: The 2014 Production Annual

    Although the past few years have proved extremely testing for PV equipment manufacturers, falling module prices have driven solar end-market demand to previously unseen levels. That demand is now starting to be felt by manufacturers, to the extent that leading companies are starting to talk about serious capacity expansions later this year and into 2015. This means that the next 12 months will be a critical period if companies throughout the supply chain are to take full advantage of the PV industry’s next growth phase.

Partners

Acknowledgements

Solar Media