Tesla plans $800 million debt sale backed by prime leases, Bloomberg News reports
The deal, run by Societe Generale, is expected to be priced next week, Bloomberg News reported, citing a person familiar with the matter.
Tesla is gearing up to issue $783 million in debt backed by automotive leases from its top-tier borrowers, according to a report by Bloomberg News on Thursday. This move comes as the industry sees a rise in similar asset-backed securities.
The deal, managed by Societe Generale, is anticipated to be priced next week, Bloomberg reported, citing a source familiar with the matter.
Tesla has yet to respond to a request for comment from Reuters.
Like other major U.S. automakers, Tesla is turning to the asset-backed securities market as a means of raising capital.
