Tesla raises borrowing capacity for car leases to $1.1 billion
Tesla
(Reuters) - Tesla Inc (TSLA.O) said on Friday  it  has increased  its  borrowing capacity for a car lease program to $1.1 billion from $600 million.
The move comes as  the electric car maker  spends heavily to fix production bottlenecks of  its  new Model 3 sedan.
 The company  increased the borrowing capacity under certain warehouse agreements   the company  said in a filing. (bit.ly/2yx2P58) A spokesman said it was related to  Tesla 's car lease program.
In August   Tesla  said  it  would raise about $1.5 billion through  its  first-ever offering of junk bonds as  it  seeks fresh sources of cash to ramp up production of  its  new Model 3 sedan.
(Reuters) - Tesla Inc (TSLA.O) said on Friday  it  has increased  its  borrowing capacity for a car lease program to $1.1 billion from $600 million.
The move comes as  the electric car maker  spends heavily to fix production bottlenecks of  its  new Model 3 sedan.
 The company  increased the borrowing capacity under certain warehouse agreements   the company  said in a filing. (bit.ly/2yx2P58) A spokesman said it was related to  Tesla 's car lease program.
In August   [TGT]said  [TGT]  would raise about $1.5 billion through  [TGT]  first-ever offering of junk bonds as  [TGT]  seeks fresh sources of cash to ramp up production of  [TGT]  new Model 3 sedan.