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

Reuters  |  DETROIT 

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 mass-market hit, with shareholders pushing its market value above that of General Motors Co and Ford ...

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First Published: Tue, August 08 2017. 00:20 IST
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