Sunday, 13 August 2017

Tesla set to raise $1.8bn by selling "junk" bonds to private investors

Tesla expects to raise nearly $1.8bn (£1.4bn) by selling "junk" bonds to private investors - even more than the electric car-maker aimed for when it announced the offering this month.

The firm said the money will keep its balance sheet steady as it ramps up manufacturing of its newest car.

Tesla aims to make 5,000 of its mass market Model 3 a week by the end of this year.

It has estimated it is already spending about $100m a week to hit that target.

On 4 August Tesla said was looking to raise $1.5bn by selling bonds, but said on Friday it now expected to raise $1.77bn from the sale.
The fundraising is limited to major institutions and not private investors.

BBC     News.