Add as a preferred source on GoogleTesla Signs $30 Billion Financing Package With Credit Lines
The package includes $20 billion in delayed-draw term loans, an $8 billion five-year revolver and a $2 billion 364-day revolver.
Tesla signed a $30 billion financing package that combines delayed-draw term loans with revolving credit facilities, giving the electric vehicle maker access to additional borrowing capacity through 2029.
The arrangement includes $20 billion in three-year delayed-draw term loans, an $8 billion five-year revolving credit facility and a $2 billion revolving facility with a 364-day term. The five-year facility allows Tesla to issue up to $500 million in letters of credit.
Tesla also ended its previous revolving credit agreement. Tesla's revolving credit facilities can be increased by as much as $4 billion, bringing their potential total to $14 billion.
The delayed-draw facility is scheduled to mature Sept. 29, 2029. Tesla did not disclose when it would draw on the term loans or how it would use the financing.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.