Tesla Repays Department of Energy Loan

Before you go, we thought you'd like these...
Before you go close icon

Scratch one creditor off the list for Tesla Motors . The company announced it has fully paid off a loan provided to it by the Department of Energy. Today, the firm wired its final payment of $451.8 million to the Department, retiring the remainder of the outstanding debt. Both the company and the DOE pointed out that the repayment comes nine years ahead of the loan's maturity date.

The funds used for the payment came from a portion of the monies raised from the common stock and convertible senior note flotations the company made last week. Combined, these issues brought in roughly $1 billion.

The DOE loan was made in 2010 and totaled $465 million.

The article Tesla Repays Department of Energy Loan originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Tesla Motors. The Motley Fool recommends and owns shares of Tesla Motors . Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading