SolarCity (SCTY +2.9%) is selling 3.4M shares at $46.54 (3% below current levels), and $200M worth of convertible senior notes due 2018. The debt offering was upsized from $125M yesterday. Net proceeds from the offerings are expected to total $344.8M-$396.6M, depending on the extent to which underwriter options are exercised. (PR)
The convertible notes carry an interest rate of 2.75%, and a conversion price of $61.67 (30% above current levels).