Tesla Motors has purchased SolarCity, creating a vertically integrated sustainable energy company. Deutsche Bank agented an amendment to Tesla’s credit agreement to support the $2.6 billion transaction.
SolarCity entered into an amendment to a revolving credit facility, with Bank of America as administrative agent. The amendment increased total lender commitments to $690 million.
SolarCity has closed the second financing within its renewable energy tax equity investment program with Bank of America Merrill Lynch and another investor.
SolarCity closed a new $150 million non-recourse financing facility with Credit Suisse to support deployment of commercial solar energy systems.
SolarCity has closed a $160 million term facility. BofA Merrill Lynch served as mandated lead arranger and sole bookrunner. KeyBank and Silicon Valley Bank served as joint lead arrangers.
Capital One Bank announced it has partnered with SolarCity to create an investment fund to finance thousands of residential solar power systems. Capital One Bank is participating in the form of a $100 million investment.
SolarCity announced it increased the size of its corporate revolver to $200 million. Bank of America Merrill Lynch is the sole lead arranger and sole bookrunner, with an additional five participating lenders.