- SolarCity's (OTCPK:SCTY -3.8%) 2019 convertible senior notes, the sale of which was first announced on Tuesday, carry an interest rate of 1.625%, and a conversion price of $83.53 (a 38% premium to current levels).
- Net proceeds are expected to total $488.1M. Initial purchasers maintain a $75M overallotment option.
- Shares are taking part in a broader market selloff that has hit solar names hard. They rallied yesterday following bullish notes from Goldman and Roth.