Tesla signs new financing package and replaces prior revolving credit agreement

Tesla has entered into a new set of financing arrangements that includes a $20 billion three-year delayed-draw term loan facility, an $8 billion five-year revolving credit facility, and a $2 billion 364-day revolving credit facility. At the same time, the company has terminated its previous revolving credit agreement. Under the new terms, Tesla is also allowed to issue letters of credit of up to $500 million. The revolving credit facility can be increased to as much as $14 billion. The update was reported by ChainCatcher in a brief newsflash. No additional details on counterparties or timing beyond the disclosed facility terms were provided in the source text.