Tesla 8-K

Summary

New credit facilities and replacement of Tesla’s existing revolver. On 9/29/2026, Tesla entered into $30.0B of senior unsecured credit facilities and terminated its $5.0B existing revolving facility. No borrowings were outstanding under either the new or terminated facilities; Tesla said it does not currently plan to draw on the new facilities in 2026.

Key Figures

• New commitments: $20.0B delayed-draw term loan, $8.0B five-year revolving facility and $2.0B 364-day revolving facility. Tesla may add up to $4.0B across the revolving facilities, bringing them to $14.0B in aggregate, subject to conditions.
• The delayed-draw term loan matures 9/29/2029; undrawn commitments step down to $10.0B after one year and $5.0B after 15 months, then terminate after 18 months. The five-year revolver matures 9/29/2031, with up to two one-year extensions available subject to conditions; the 364-day revolver matures 9/28/2027, with a conditional one-year term-out option.
• Proceeds may be used for general corporate purposes or other permitted purposes. Borrowings carry floating benchmark-based rates plus rating-based margins; Tesla must maintain at least $5.0B of consolidated liquidity under the agreements.
• The terminated $5.0B revolver had been due to mature 1/20/2028. It had no outstanding borrowings, and termination incurred no early termination penalty.

Investor Takeaways

• Watch for any change to Tesla’s stated plan not to draw on the new facilities in 2026, and for any future borrowing or increase in revolving commitments.