Tesla Motors $1.8 billion 5.3% high yield offering

Overview:

• Tesla Motors has made a $1.8 billion 5.3% high yield offering.
• This offering represented Tesla’s first offering of high yield notes.
• The offering was originally announced as $1.5 billion.
• The proceeds from these notes are to be used to further strengthen Tesla’s balance sheet brought about due to the introduction of Tesla’s Model 3, and any leftover proceeds will be used for corporate purposes.
• Goldman Sachs & Morgan Stanley were the initial purchasers.

Dylan Seligman - Researcher