Deutsche Bank and Bank America

facility: The company may increase the total commitments under the facility by up to $250 million, Tesla said, according to Euro News. The agreement also provides for a $100 million letter of credit sub-facility and a $40 million swingline loan sub-facility, Tesla said. The agreement was signed with a group of banks, including Deutsche Bank, Bank of America, the company said. The loans may be used for working capital and general corporate purposes, the company said. In May, the company unveiled Tesla Energy — storage systems or batteries for homes, companies and utilities aimed at expanding its business beyond electric vehicles. Tesla said in May that it planned a total of $1.5 billion in capital spending this year, primarily on buying production tools for the Model X, completing its large battery gigafactory in Nevada, and for other facilities. (news.financializer.com). As reported in the news.