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SpaceX to buy US$90m in SolarCity Solar bonds

Tuesday, March 31, 2015 - 06:33
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Elon Musk's Space Exploration Technology Corp agreed to buy US$90 million in SolarCity Corp bonds tied to payments from rooftop solar power systems.

[NEW YORK] Elon Musk's Space Exploration Technology Corp agreed to buy US$90 million in SolarCity Corp bonds tied to payments from rooftop solar power systems.

That's almost all of the $93 million in one-year bonds that SolarCity is offering at a 2 per cent interest rate, the San Mateo, California-based solar developer said today in a regulatory filing.

Mr Musk is co-founder and chief executive officer of Hawthorne, California-based SpaceX, as well as chairman and largest shareholder of SolarCity.

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