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Tesla (TSLA) Enters $300M Warehouse Agreement with Deutsche Bank
September 7, 2016 4:25 PM EDTTesla (NASDAQ: TSLA) disclosed the following in a U.S. SEC filing on Wednesday night:
Item 1.01Entry into a Material Definitive Agreement.
On August 31, 2016, Tesla Finance LLC (TFL) and Tesla 2014 Warehouse SPV LLC (the Borrower), each a wholly-owned direct or indirect subsidiary of Tesla Motors, Inc. (Tesla), entered into a Loan and Security Agreement (the Warehouse Agreement) with Deutsche Bank AG, New York Branch (DB). Under the Warehouse Agreement, which will support the Tesla Finance direct vehicle leasing program, we may borrow up to $300.0 million in total principal amount. The ability to draw... More
