Convertibles Calendar: Tesla Motors to price $525 million

MAY 16

TESLA MOTORS INC. (Nasdaq: TSLA): $525 million of five-year convertible bonds (upsized during marketing from $450 million); $78.75 million greenshoe; after the market close Thursday; registered; talked tightened to 1.5%-2% yield, up 35%, from original talk of 2%-2.5%, up 30%-35%; concurrent offering of 2,703,027 shares of common stock; chief executive Elon Musk has indicated interest in purchasing up to 1,201,345 shares; call spread; contingent conversion at 130%; non-callable, no puts; takeover protection; proceeds to repay a DOE loan, for bond hedge and for general corporate purposes; Goldman Sachs & Co., Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC; Palo Alto, Calif.-based electric car maker.

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