Tesla eyes bonds to fund Model 3
Tesla will be raising about $1.5 billion through its first-ever offer of junk bonds. The US luxury electric car-maker is seeking fresh sources of cash to ramp up production of its new Model 3 sedan. The move to issue junk bonds - lower-quality investments that offer higher yields - represents a bet by Tesla Chief Executive Elon Musk that bond investors will be as hungry as stock investors to back the company on expectations that its Model 3 will be a hit. So far, Tesla has been raising money only to pay its bills.