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Corrected: Tesla seeks $1.5 billion junk bonds issue to fund Model 3 production

Reuters 

(This story corrects company affiliation of Efraim Levy to CFRA from S&P Capital in paragraph 13.)By Nick CareyDETROIT (Reuters) - Tesla Inc said on Monday it would raise about $1.5 billion through its first-ever high-yield junk bond offering, as the U.S. luxury electric car maker seeks fresh sources of cash to ramp up production of its new Model 3 sedan.The debt offering marks Tesla's debut in the junk-bond market and the company will start road-shows on Monday, IFR reported, citing lead bankers on the deal.Tesla has been riding high on investor expectations that its Model 3 will be a ...

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First Published: Tue, August 08 2017. 00:18 IST
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