Tesla Agrees to Issue and Sell $1.80 Billion of Senior Notes
August 11 2017 - 5:56PM
Following the announcement of Tesla's proposed $1.50 billion senior
notes offering on August 7, 2017, Tesla today announced that it has
agreed to issue and sell $1.80 billion in aggregate principal
amount of senior notes due in 2025 (the “Notes”), representing a
20% upsize. The Notes will have an annual interest rate of 5.30%,
and the transaction is expected to close on August 18, 2017,
subject to customary closing conditions.
Tesla intends to use the net proceeds from this offering to
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 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 such registration
requirements. The Notes are being offered to qualified
institutional buyers pursuant to Rule 144A under the Securities
Act, and outside the United States to non-U.S. persons pursuant to
Regulation S under the Securities Act.
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy the Notes, 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 closing of the 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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