Summary
This 8-K filing by Tesla, Inc. (TSLA) from June 29, 2017, details an amendment to its Revolving Aggregation Credit Facility. The amendment, effective June 23, 2017, extends the availability period of draws to December 31, 2018, and the maturity date to December 31, 2019. Notably, the total lender commitments under this facility were decreased to $600 million.
Key Highlights
- 1Amendment to the Revolving Aggregation Credit Facility entered into on June 23, 2017.
- 2Extended availability period for draws to December 31, 2018.
- 3Extended maturity date to December 31, 2019.
- 4Reduced total lender commitments under the facility to $600 million.
- 5The credit facility is secured by assets and cash flows of certain SolarCity subsidiaries.
- 6The facility is non-recourse to Tesla's overall assets and cash flows.
- 7The reduction in commitment aligns with Tesla's shift towards cash/loan sales and securitization for solar assets.