SolarCity ups credit facility again as financing binge continues

|By:, SA News Editor

Less than two months after more than doubling the size of its credit revolver to $160.5M from $75M, SolarCity (SCTY +0.3%) has increased its size to $200M. The 3-year facility carries an interest rate of either 3.25% above LIBOR or 2.25% above the base rate. (PR)

SolarCity, which has set a target of providing solar installations for 1M+ homes by 2018, has been raising funds to finance installations at a breakneck pace. The company launched a well-received offering of solar asset-backed notes last month.