Saint Elon is at it again. Musk has demonstrated repeatedly that Tesla is incapable of building quality cars even at the comparatively minuscule volumes he's dealing with. To even suggest that he can crank out 500,000 Model 3s in one year is the height of absurdity, yet everyone hangs on his every word and gives him the benefit of the doubt. Muskonians. Sheeple.
DETROIT (Reuters) - Tesla Inc (TSLA.O) said on Monday it would raise about $1.5 billion through its first-ever offering of junk bonds as the U.S. luxury electric car maker seeks 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.
Tesla shares are up 67 percent this year, pushing the company's market value to about $60 billion, above that of top U.S. automakers General Motors Co (GM.N) and Ford Motor Co (F.N), even though Tesla has yet to make an annual profit.
https://www.reuters.com/article/us-tesla-offering-idUSKBN1AN13I
