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Elon Musk's tweets all but assure Tesla will have to pay $920 million

Tesla to pay $920 million to bondholders on Friday

Elon Musk
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Musk has some of the most remarkable views on Artificial Intelligence. Photo: Reuters

Molly Smith I Bloomberg
Elon Musk’s run-in with regulators and executive exits have made it all but certain that his electric-car company will have to pay $920 million to bondholders on Friday after Tesla’s stock failed to rise above a critical price level.

Tesla Inc. is on the hook to settle the March 1 convertible bond maturity in cash, the largest debt payment to date in its almost 16-year history. To make some of the payout using stock, the shares would have had to reach a volume-weighted average price of $359.87 for the 20-day trading period that began Jan. 29. The figure was about $306.91

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First Published: Feb 27 2019 | 6:17 PM IST

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