Aug
07
Tesla Plans $1.5 Billion Bond Market Debut to Fund Model 3
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Electric-car maker plans first sale of non-convertible debt
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Spending on sedan capacity, battery output burns through cash
Having tapped the equity market eight times for capital over the past seven years to fund Tesla Inc.’s growth — and cover its losses — Elon Musk is turning to the bond market.
Needing cash to finance his audacious bet on the mass production of a more affordable electric car, the Model 3, Musk plans to sell $1.5 billion of eight-year bonds. Tesla officials are meeting with investors across the U.S. this week to drum up demand. The debt sale will test Musk’s ability replicate the fervent following he’s built among stock investors, who’ve bought into his vision of a clean-energy future and pushed the shares up 67 percent this year…
Tesla Plans $1.5 Billion Bond Market Debut to Fund Model 3
