The raised funds will go towards funding the production of Tesla Model 3. Photo: ReutersSouthfield, Michigan: Tesla Inc. is selling bonds to bolster its balance sheet and support spending on the Model 3 sedan. The company plans to offer $1.5 billion in senior unsecured notes due in 2025, according to a statement. Tesla said it intends to use the proceeds to produce its most affordable model and for general corporate purposes. The Model 3 is the linchpin of chief executive officer Elon Musk’s plans to turn Tesla into more of a mass-market manufacturer.

Source: Mint August 07, 2017 12:45 UTC