Tesla will be receiving $750 million in loans from various big-name banks, including JPMorgan Chase, Bank of America and Deutsche Bank AG.
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According to Tesla’s SEC 8-K filings, the company will receive an initial cash boost of $500 million, while the remaining amount will be awarded after various conditions are achieved. The loan request isn’t a total surprise, as Tesla CEO Elon Musk said the company would have “staggering” capital expenditures during an earnings call in 2014’s fourth quarter.
Tesla Takes A Loan Of $750M – Should Investors Be Worried?
Tesla is getting funds worth $750 million from a number of banks, including Bank of America, JPMorgan Chase and Deutsche Bank. This new cash injection furthers concerns about the company’s dwindling cash balance …
