Tesla 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.
