Tesla Increases Size of Private Placement of 5.3% Notes Due 2025 to USD1.8 Billion

Published: Aug 07 2017
Deal Summary

Tesla, Inc., an energy storage company, has increased the size of the private placement of 5.3% senior notes due 2025, from gross proceeds of USD1.5 billion to USD1.8 billion. The placement will be subscribed to by qualified institutional buyers that to only major institutions in the US.

The notes will be senior unsecured debt obligations of the company.

The company intends to use the proceeds to further strengthen its balance sheet during this period of rapid scaling with the launch of Model 3, and for general corporate purposes.

The offering is subject to market and other conditions.

Deal History:

Announced: On August 7, 2017, Tesla announced a private placement of senior notes due 2025, for gross proceeds of USD1.5 billion.

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