Tesla Announces Proposed $1.5 Billion Offering of Senior Notes
August 07 2017 - 6:00AM
Tesla today announced that it intends to offer, subject to market
and other conditions, $1.5 billion in aggregate principal amount of
its senior notes due 2025 (the “Notes”). The Notes will be senior
unsecured debt obligations of Tesla. The interest rate, redemption
prices and other terms of the Notes are to be determined.
Tesla intends to use the net proceeds from this offering to
further strengthen its balance sheet during this period of rapid
scaling with the launch of Model 3, and for general corporate
purposes.
The Notes have not been and will not be registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any
state securities laws, and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements of the Securities Act and the rules
promulgated thereunder. The Notes will be offered only to qualified
institutional buyers in the United States pursuant to Rule 144A of
the Securities Act and outside the United States to non-U.S.
persons in reliance on Regulation S under the Securities Act.
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy any of the foregoing securities,
nor shall there be any offer, solicitation or sale in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful.
Forward-Looking Statements
Certain statements in this announcement, including statements
regarding the proposed offering of the Notes and Tesla’s intended
use for the proceeds of the offering, are “forward-looking
statements” that are subject to risks and uncertainties. These
forward-looking statements are based on management’s current
expectations, and as a result of certain risks and uncertainties,
actual events or results may differ materially from those contained
in the forward-looking statements, including those factors set
forth in Tesla’s public filings. These documents contain and
identify important factors that could cause the actual results for
Tesla on a consolidated basis to differ materially from those
contained in Tesla’s forward-looking statements. This list of
factors is not intended to be exhaustive. Such forward-looking
statements only speak as of the date of this announcement, and
Tesla disclaims any obligation to update information contained in
these forward-looking statements.
Investor Relations Contact:
Jeff Evanson
Tesla
ir@tesla.com
Press Contact:
Dave Arnold
Tesla
press@tesla.com
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