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Tesla Plans to Use Stock-Cash Mix to Pay Off March Debt

  • Electric-car maker may settle half of $920 million with cash
  • Stock price still volatile with maturity looming months away
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Tesla Analyst Ferragu Says Factory 'Exceptionally Efficient'
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Tesla Inc. has notified holders of bonds due in March that if they elect to convert the debt, they’ll be paid with a 50-50 mix of cash and stock, according to a copy of the settlement notice seen by Bloomberg News.

The notice, dated Nov. 30, relates to the $920 million convertible bond due at the beginning of March. The equity-conversion price is $359.88 per share, a level Tesla’s stock closed above on Thursday for the first time since Aug. 8.