(Reuters) -Tesla is preparing to sell $783 million in debt, backed by automotive leases from its prime borrowers amid a surge in similar asset-backed securities within the industry, Bloomberg News reported on Thursday. The deal, run by Societe Generale, is expected to be priced next week, Bloomberg News reported, citing a person familiar with the […]
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Tesla plans $800 million debt sale backed by prime leases, Bloomberg News reports
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(Reuters) -Tesla is preparing to sell $783 million in debt, backed by automotive leases from its prime borrowers amid a surge in similar asset-backed securities within the industry, Bloomberg News reported on Thursday.
The deal, run by Societe Generale, is expected to be priced next week, Bloomberg News reported, citing a person familiar with the matter.
The electric vehicle maker did not immediately respond to a Reuters request for comment.
Tesla, like other major US automakers, is tapping into the asset-backed securities market to raise capital.
(Reporting by Akash Sriram in Bengaluru; Editing by Anil D’Silva)