SolarCity (Mexico) Green Securitization Facility

inactive

The objective of the proposed transaction is to raise financing from the capital markets for the purchase of photovoltaic systems in Mexico. The transaction will provide a revolving loan facility to a special purpose vehicle (the “Warehousing Trust”), which transaction will be structured to be refinanced through a securitization for which the IIC will provide a Partial Credit Guarantee. Iliosson S.A. de C.V., a Mexican subsidiary of SolarCity Corporation, or a subsidiary thereof (“Iliosson”) will originate, sell, operate, maintain and service the photovoltaic systems on residential, industrial and commercial properties in Mexico (the “PV systems” or “sub projects”). This transaction will enable the financing of the purchase of the PV Systems from Iliosson.The IIC Project financing will be provided in two steps: (i) an Accumulation Stage, in which the IDB and IIC will provide a senior revolving loan, which is expected to include a revolving B loan, to the Warehousing Trust with the aim of purchasing and accumulating credit rights arising from the purchased PV systems (the “Warehousing Loan”); and (ii) a Mobilization Stage, in which the IIC will provide one or more Partial Credit Guarantees (PCGs) to support the securitization of these credit rights in local capital markets. The PCGs will support the issuance of up to three Securitization Cycles: one issuance every 24 months.The Project may receive financial support from the Clean Technology Fund (CTF) in the form of a Partial Credit Guarantee to support the Warehousing Loan during the Accumulation Stage.