Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
PALO ALTO, Calif., Aug. 11, 2017 -- 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 [email protected] Press Contact: Dave Arnold Tesla [email protected]
