Elon Musk’s SpaceX to buy another $75 million in solar-backed bonds from SolarCity
Solar panels on the roof of SpaceX’s headquarters in Hawthorne, CA.
SolarCity revealed in a recent SEC filling that the company expects SpaceX, Elon Musk’s rocket company, to buy $75 million in “SolarBonds”. Earlier this year, SpaceX already purchased $90 million in solar-backed bonds from SolarCity, just 2 months after the aerospace company landed a $1 billion equity deal with Google and Fidelity. If this second purchase goes through, SpaceX will be holding $165 million in SolarCity debt backed by solar assets.
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