Tesla Has Just 4 Weeks to Rally 21% or Pay $920 Million on Bonds
- Convertible bonds coming due March 1 in biggest ever debt bill
- ‘There’s always a glimmer of hope,’ portfolio manager says
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The clock is now ticking for Elon Musk to avoid a $920 million bill for Tesla Inc.
That’s the amount of debt coming due March 1 from convertible bonds issued back in 2014. Tesla can dodge the payout by exchanging the note for a mix of cash and stock -- but only if the shares jump about 21 percent from their current level, based on a 20-day averaging period that starts today.