SolarCity Launches Solar-Bond Offering, To Issue Up To $200 Mln Bonds Initially

(RTTNews) - SolarCity (SCTY), a provider of solar energy systems, Wednesday launched the nation's first registered public offering of solar bonds. The company filed a registration statement with the Securities and Exchange Commission to issue up to $200 million in solar bonds initially, and launched a new online investment site to make them available directly to consumers.

SolarCity is currently providing more than one out of every three new solar power systems in the U.S. The earnings on its solar bonds are to be paid by income received from monthly solar payments made by thousands of homeowners, schools, businesses, and government organizations across the country.

SolarCity has created funds to finance the installation of approximately $5 billion in renewable energy assets with investments from a number of the world's leading financial institutions and corporations.