Tesla Announces Proposed $1.5 Billion Offering of Senior Notes
On August 7, 2017, Tesla announced that it intends to offer, subject to market and other conditions, $1.5 billion in aggregate principal amount of its senior notes due 2025. The notes will be senior unsecured debt obligations of Tesla. The interest rate, redemption prices, and other terms of the notes are to be determined. Wilson Sonsini Goodrich & Rosati is representing Tesla in the offering.
According to a company press release, Tesla intends to use the net proceeds from the offering to further strengthen its balance sheet during this period of rapid scaling with the launch of its Model 3 electric automobile, and for general corporate purposes.
For more information, please see Tesla's press release.