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Tesla to raise 1.5 billion to fuel model 3 manufacturing

Tesla Inc. is about to make its debut in the primary corporate bond market, as Elon Musk bolsters his company’s balance sheet amid an audacious bet on a more affordable electric car.

The automaker plans to offer $1.5 billion in senior unsecured notes due in 2025, according to a statement. Tesla said it intends to use the proceeds to support the Model 3, its cheapest model yet, and for general corporate purposes. It would be the company’s first sale of non-convertible bonds, according to data compiled by Bloomberg.


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