Tesla Premarkets Second $783 Million Debt Sale Backed by Car Leases: Bloomberg

Oct 3, 2024, 06:20 PM

Tesla Inc. is premarketing a $783 million debt sale backed by prime car leases, Bloomberg reports. This marks the company's second such transaction this year, following a $750 million asset-backed securities (ABS) deal in March. The deal is being managed by Société Générale. Tesla has been increasingly leveraging asset-backed securities to raise capital, with $1 billion worth of revenue generated from similar activities. The company continues to innovate in financial strategies amid a surge in asset-backed securities within the industry.