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Actionable news in SCTY: SolarCity Corporation,

Entry Into a Material Definitive

On March 31, 2016, a subsidiary (Borrower) of SolarCity Corporation (SolarCity) entered into a credit facility (the Credit Facility) with Credit Suisse AG, New York Branch, as agent for such lenders and funding agents that become parties to the Credit Facility.The Credit Facility is financed against certain revenues from a lessee under a master lease (Lessee).The Credit Facility is a back leverage facility backed by high quality, long-term commercial customer receivables that allow SolarCity to deploy, aggregate and season a defined pool of assets.The Credit Facility allows Borrower to borrow up to $200,000,000, of which $150,000,000 is currently committed.

Interest Rate

.Borrowings under the Credit Facility bear interest at a rate per annum equal to cost of funds plus an applicable margin of 3.25%.

Mandatory Prepayments

.The Credit Facility requires Borrower to prepay outstanding borrowings (i) using net cash flow from the revenues from Lessee, upon the occurrence of a borrowing base deficiency or at the end of the availability period; or (ii) upon any refinancing of the...