Solar Leases Enter the Bond Market

SolarCity has sold the first bonds backed by revenue from rooftop solar projects. The offering marks the first time solar leases have been bundled for sale in the same way mortgage and other revenues streams are bundled, marking a new era of confidence among mainstream investors thpecan street incat solar is a safe investment that will provide predictable, long-term income.

With $54.4 million in aggregate principal, the asset-backed notes were offered only to qualified institutional buyers at an interest rate of 4.8 percent and maturity date of Dec. 21, 2026.

 

 

 

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