Indebtedness (Tables)

12 Months Ended

Dec. 31, 2015

The following is a summary of the Company’s debt as of December 31, 2015 (dollars in thousands):

	Unpaid						Unused
	Principal		Net Carrying Value				Borrowing
	Balance		Current		Long-Term		Capacity		Interest Rate	Maturity Dates
Recourse debt:
Secured revolving credit facility	$	360,000	$	22,320	$	333,287	$	13,053	3.5%-5.8%	December 2016 - December 2017
Vehicle and other loans		28,173		12,562		15,610		—	2.5%-7.6%	January 2016 - June 2019
2.75% convertible senior notes due in 2018		230,000		—		225,795		—	2.8%	November 2018
1.625% convertible senior notes due in 2019		566,000		—		555,981		—	1.6%	November 2019
Zero-coupon convertible senior notes due in 2020		113,000		—		112,784		—	0.0%	December 2020
Solar Bonds		214,324		178,309		35,778	*		1.3%-5.8%	January 2016 - December 2030
Total recourse debt		1,511,497		213,191		1,279,235		13,053
Non-recourse debt:
Term loan due in May 2016		34,622		33,918		—		—	3.5%	May 2016
Term loan due in December 2016		112,483		111,248		—		—	3.6%-3.7%	December 2016
MyPower revolving credit facility		213,125		—		210,735		26,875	3.0%-5.5%	January 2017
Revolving aggregation credit facility		455,693		—		446,963		194,307	3.1%-3.2%	December 2017
Solar Asset-backed Notes, Series 2013-1		45,845		3,342		39,669		—	4.8%	November 2038
Solar Asset-backed Notes, Series 2014-1		64,431		2,855		58,938		—	4.6%	April 2044
Solar Asset-backed Notes, Series 2014-2		193,755		6,319		181,041		—	4.0%-Class A 5.4%-Class B	July 2044
Solar Asset-backed Notes, Series 2015-1		122,295		1,348		116,019		—	4.2%-Class A 5.6%-Class B	August 2045
Total non-recourse debt		1,242,249		159,030		1,053,365		221,182
Total debt	$	2,753,746	$	372,221	$	2,332,600	$	234,235

*	Out of the $350.0 million authorized to be issued by the Company’s board of directors, $135.7 million remained available to be issued. See below and Note 21, Related Party Transactions, for Solar Bonds issued to related parties.

The following is a summary of the Company’s debt as of December 31, 2014 (dollars in thousands):

	Unpaid						Unused
	Principal		Net Carrying Value				Borrowing
	Balance		Current		Long-Term		Capacity		Interest Rate	Maturity Date
Recourse debt:
Secured revolving credit facility	$	130,000	$	—	$	126,659	$	54,935	3.4%	December 2016
Vehicle loans		9,724		2,647		7,077		—	1.9%-7.5%	March 2015 - June 2019
2.75% convertible senior notes due in 2018		230,000		—		224,311		—	2.8%	November 2018
1.625% convertible senior notes due in 2019		566,000		—		553,415		—	1.6%	November 2019
Solar Bonds		3,943		989		2,663	#		2.0%-4.0%	October 2015 - October 2018
Total recourse debt		939,667		3,636		914,125		54,935
Non-recourse debt:
Term loan assumed from Silevo acquisition		9,134		9,134		—		—	7.8%	June 2015
Term loan due in May 2016		34,195		—		31,174		90,805	3.2%	May 2016
Term loan due in December 2016		122,655		—		117,879		127,345	3.4%-3.5%	December 2016
Solar Asset-backed Notes, Series 2013-1		49,519		3,167		43,395		—	4.8%	November 2038
Solar Asset-backed Notes, Series 2014-1		67,676		2,686		62,250		—	4.6%	April 2044
Solar Asset-backed Notes, Series 2014-2		201,494		7,304		187,570		—	4.0%-Class A 5.4%-Class B	July 2044
Total non-recourse debt		484,673		22,291		442,268		218,150
Total debt	$	1,424,340	$	25,927	$	1,356,393	$	273,085

#	Out of the $200.0 million authorized to be issued by the Company’s board of directors, $196.1 million remained available to be issued. See below and Note 21, Related Party Transactions, for Solar Bonds issued to related parties.

The future scheduled principal maturities of debt as of December 31, 2015 were as follows (in thousands):