Renewable-Energy-Industry.com

Business World of Renewable Energy

Nordex Turkey 14042016 1280 256

SolarCity Raises $305 Million in Latest Cash Equity Financing

San Mateo

A private investment fund affiliated with Quantum Strategic Partners Ltd. and advised by Soros Fund Management LLC provided the equity investment in a portfolio of residential, commercial and industrial solar projects. The transaction also included a fully amortizing, 18-year loan that was syndicated to five high-quality institutional investors.

By placing the equity investor and lender group separately, SolarCity was able to achieve a pre-tax, weighted average cost of capital for the transaction of 7.4%, a significant improvement over its first cash equity transaction. The transaction and terms demonstrate the exceptional quality of SolarCity



Source: IWR Online, 13 Sep 2016

 


Companies