The $500m facility comes from Bank of America Merrill Lynch, Credit Suisse and Deutsche Bank, and will finance more than 500MW of PV capacity across both the residential and commercial markets, SolarCity says.
The deal will allow SolarCity to fund installations “at an earlier stage in their development cycle, enabling a faster return of working capital”, the company says.
“The revolving loan will permit fully developed systems to be continuously refinanced through ongoing securitizations or other capital markets solutions.”
SolarCity
