Tesla Motors Inc. increased its borrowing capacity under two credit agreements by about USD 500 million – two months after Chief Executive Officer Elon Musk tweeted that raising debt wouldn't "be necessary" before the end of the year.
Tesla, which last month acquired money-losing solar-roof installer SolarCity Corp. for USD 2 billion, boosted a credit line with Deutsche Bank AG by USD 200 million, according to a regulatory filing Tuesday. The company has the potential to add another USD 50 million to that agreement and increased a separate credit facility by another USD 300 million.
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