SAN MATEO, Calif., Oct. 17, 2016 /PRNewswire/ -- SolarCity Corp.
(Nasdaq: SCTY) today announced that it has created a new fund to
finance more than $300 million in
solar projects with Credit Suisse. The fourth such collaboration
between SolarCity and Credit Suisse will allow thousands of
homeowners in the U.S. to pay less for solar electricity than they
pay for utility bills.
The fund represents another new financing for SolarCity,
following a $305 million cash equity financing and a fund to
finance $347 million in projects with Citi that closed last
month.
About Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services
providers and is part of the Credit Suisse group of companies
(referred to here as 'Credit Suisse'). As an integrated bank,
Credit Suisse offers clients its combined expertise in the areas of
private banking, investment banking and asset management. Credit
Suisse provides advisory services, comprehensive solutions and
innovative products to companies, institutional clients and
high-net-worth private clients globally, as well as to retail
clients in Switzerland. Credit
Suisse is headquartered in Zurich
and operates in over 50 countries worldwide. The group employs
approximately 47,180 people. The registered shares (CSGN) of Credit
Suisse's parent company, Credit Suisse Group AG, are listed in
Switzerland and, in the form of
American Depositary Shares (CS), in New
York. Further information about Credit Suisse can be found
at www.credit-suisse.com.
About SolarCity
SolarCity (NASDAQ: SCTY) provides
clean energy. The company has disrupted the century-old energy
industry by providing renewable electricity directly to homeowners,
businesses and government organizations for less than they spend on
utility bills. SolarCity gives customers control of their energy
costs to protect them from rising rates. The company makes solar
energy easy by taking care of everything from design and permitting
to monitoring and maintenance. Visit the company online
at www.solarcity.com and follow the company on
Facebook & Twitter.
This release contains forward-looking statements including,
but not limited to, statements regarding SolarCity's financing
strategies, expected future deployments and other statements.
Forward-looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved, if at all. Forward-looking statements are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward looking statements, including the risk
that the timing of the transaction is delayed or the closing
conditions are not satisfied. You should read the section entitled
"Risk Factors" in SolarCity's quarterly report on Form 10-Q, which
has been filed with the Securities and Exchange Commission and
identifies certain of these and additional risks and uncertainties.
SolarCity does not undertake any obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future developments or otherwise.
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SOURCE SolarCity
