Tesla to raise $1.5 billion in junk bonds

Tesla is raising $1.5 billion in junk bonds to help ramp up production of its new Model 3 sedan. The debt offering comes as the electric automaker receives thousands of reservations for the Model 3. In March, the company raised $1.4 billion in a convertible debt offering. Last weel. Elon Musk noted Tesla received 455,000 net pre-orders on the Model 3.