Tesla Sells $600 Million in Convertibles to Help Repay U.S. Loan
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Electric-car maker Tesla Motors Inc. sold $600 million of convertible notes to help repay a U.S. loan, tapping the bond market for the first time.
The carmaker run by billionaire Elon Musk issued 1.5 percent securities that can be swapped for shares at $124.52 each by June 2018, according to data compiled by Bloomberg. The stock traded at $92.51 at 10:21 a.m. in New York after almost tripling in price this year.