25 Mar '14, 1pm

News: SolarCity Enters Into Largest Rooftop Solar Aggregation Facility.

SAN MATEO, Calif., March 25, 2014—SolarCity (Nasdaq: SCTY), a leading provider of clean energy, today announced it has received all commitments to its $250 million financing facility provided by a group of lenders that includes BofA Merrill Lynch as Sole Structuring Agent and Sole Syndication Agent, intended to finance more than 200 MW of solar power systems for homeowners and businesses. This financing is the largest aggregation facility for distributed generation solar projects to date, and the third such facility entered into by SolarCity. SolarCity has raised funds sufficient to finance more than $4 billion in solar projects. The loan is backed by high quality, long-term customer receivables that allow the company to deploy, aggregate and season a defined pool of assets. After the solar assets are fully deployed, SolarCity expects to refinance the facility in the secur...

Full article: http://www.solarcity.com/pressreleases/235/-SolarCity-Ent...

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