By [email protected] Tesla is turning to the junk bond market to help meet its hefty expansion goals. On Monday, the company announced that it’s planning to raise $1.5 billion in its first-ever debt offering to fund production of the Model 3 EV sedan and its Nevada battery Gigafactory.
Tesla’s $1.5 billion offering of unsecured senior notes, due in 2025, marks the first time the EV-battery-solar maker has turned to traditional debt markets to fuel its rapid expansion. Previously the company raised money through equity and convertible debt, most recently in a $1.15 billion raise in March, including $250 million of common stock and
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