Los Angeles Times

Tesla might make $920 million in debt go away

A big pile of debt comes due at Tesla March 1 – $920 million worth. But starting in two weeks, the company has a chance to make it disappear.

The debt is in the form of convertible bonds, a special kind of instrument that can be converted into shares of Tesla stock under certain conditions. If conditions are met, and all bondholders convert, Tesla would suddenly gain $920 million worth of much-needed financial flexibility.

To spark a conversion, Tesla needs to boost its stock price to $359.87 or higher at some point from Dec.

You're reading a preview, sign up to read more.

More from Los Angeles Times

Los Angeles Times1 min read
Angels Broadcaster Mark Langston Taken To Hospital After A Medical Emergency
HOUSTON - Angels radio broadcaster Mark Langston was transported to a Houston hospital after suffering a medical emergency at Minute Maid Park on Friday evening. Langston was alert and undergoing testing, the Angels announced. There was no further in
Los Angeles Times3 min read
Movie Review: Zach Galifianakis Stretches Web Series 'Between Two Ferns' To A Snapping Point
The best part of "Between Two Ferns: The Movie," a semi-amusing, Netflix-produced addendum to the popular Funny or Die web series, is the closing-credits blooper reel. That might sound like a backhanded compliment, which means it's still nicer than a
Los Angeles Times4 min read
Rams The Choice Over Browns In Sunday Night Football
The Los Angeles Times' NFL writer, Sam Farmer, examines this week's matchups. Lines according to Pregame.com (O/U = over/under). Last week's record 10-6 (.625); season 19-12-1 (.613). Using point spreads with the scores Farmer predicted, the record a