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The banks had already signed up for financing. They didn't need another reason to pull out - because of the changes in interest rates since they signed the deal
by HWR_14 4y ago
The banks had already signed up for financing. They didn't need another reason to pull out - because of the changes in interest rates since they signed the deal, they stand to lose hundreds of millions over the life of the loan.
- shapefrog 4y agoThey agreed a cap of 12% on the interest, if they cant get it away for less than that they will just stick it on the books and wear it, the debt may be poorly rated, but cant see Musk defaulting on it over the next few years at least.