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SolarCity Proposes $54.4 Million Securitization Placement

SolarCity Corp. (SCTY), the second-largest U.S. solar company by market capitalization, is seeking a buyer for $54.4 million of asset-backed notes in a private placement.

The notes, with a scheduled maturity date of December 2026, would be secured by a pool of solar systems, related leases and power-purchase agreements and other rights and agreements, the San Mateo, California-based company said today in a statement.

First Solar Inc. is the largest U.S. solar company.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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