Tesla secures $30 billion in new credit agreements

Tesla signed three separate credit agreements totaling $30 billion, according to a filing submitted on Tuesday, September 29, to the US Securities and Exchange Commission (SEC).

The main agreement is a three-year, $20 billion delayed-draw credit facility with Citibank. Tesla can borrow funds up to ten times over the 18 months following the closing date. Any drawn amounts mature on September 29, 2029. Unused commitments under this facility automatically decrease to $10 billion after one year and to $5 billion after 15 months. Any remaining undrawn balance expires 18 months after closing.

Tesla also arranged two unsecured revolving credit facilities with Wells Fargo. One is a five-year, $8 billion line, and the other is a 364-day, $2 billion facility. The company can expand the combined commitments of these two Wells Fargo facilities by up to an additional $4 billion.

The $8 billion facility can be drawn in US dollars, British pounds, or euros, and allows for the issuance of up to $500 million in letters of credit. It matures on September 29, 2031, when all outstanding balances become due, with an option for Tesla to request up to two one-year extensions.