SolarCity Offers $200 Million In Solar Bonds

SolarCity Corp. said Wednesday it would offer $200 million in solar bonds directly to investors on a new online investment platform. The bonds will be available to investors regardless of whether they are SolarCity customers, the company said. The interest on the bonds will be paid using the monthly payments SolarCity, the top U.S. residential solar installer, collects from homeowners and businesses for their solar-power systems. SolarCity said the bonds were the first public solar bond offering and will carry maturities ranging from one to seven years and interest rates of up to 4%. Shares declined 4.5% on Wednesday.