SolarCity, the largest PV installer in the US, has announced it will offer US$54.425 million worth of notes.
The offering will be made through the subsidiary SolarCity LMC Series I, LLC and will be secured by a basket of PV projects and associated leases and power purchase agreements.
The notes will add to the US$396.6 million raised in October by stock and note offerings.
“We intend to use the net proceeds from this offering for general corporate purposes, including working capital, capital expenditures, potential acquisitions and strategic transactions. From time to time, we evaluate potential acquisitions and strategic transactions of businesses, technologies or products,” read a company statement following issued at the time.
The new convertible notes have a scheduled maturity date of December 2026.