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Aug

09

Tesla’s Gigafactory Is Out of Reach for Its New Lenders

By Tony Seruga

Bond offering carves out Gigafactory 1 from curbs on borrowing
Terms could allow Musk’s venture to add layers of senior debt

Elon Musk calls Tesla’s mammoth battery factory in Nevada an “alien mothership.” For the carmaker’s newest lenders, the plant might as well be in outer space.

The billionaire coined that moniker for Tesla Inc.’s Gigafactory 1 as he waxed poetic about his company’s future on an Aug. 7 call with would-be bond buyers. It’s the world’s biggest battery factory and central to Tesla’s plans for mass production of its new Model 3 electric car. Musk invited his audience to come tour the plant near Reno…

Tesla’s Gigafactory Is Out of Reach for Its New Lenders

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