SolarCity becomes first US solar company to offer bonds on rooftop solar.

Bloomberg: “SolarCity Corp., the first US company to offer bonds backed by rooftop solar panels, plans to sell as much as $200M of additional notes as soon as the second quarter, its CFO said. The company expects subsequent bond offerings as often as every quarter, CFO Bob Kelly said in an interview.” “SolarCity sold $54.4M in bonds Nov. 13 in a transaction that closed today. Kelly said that investors are recognizing that selling electricity from solar systems is a stable, long-term source of revenue. The solar bonds are rated BBB+ by Standard & Poor’s, the third-lowest investment grade. They have a 4.8% interest rate and will mature in Dec 2026.”