According to an 8-K filing, Tesla Motors received a credit line of $300 million from Deutsche Bank AG under a warehouse agreement which will support the Tesla Finance direct vehicle leasing program.
According to the filing, the deal with Deutsche Bank will allow the electric vehicle manufacturer to borrow as much as $300 million to boost its finances. Tesla said in the filing that this new liquidity will significantly reduce the cash requirements for its direct leasing program.
The amount borrowed under the credit facility offered by Deutsche Bank is due on September 20, 2018.
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