Tesla sold $0.499 billion in bonds secured by photovoltaic equipment loans. Deutsche Bank initiated the underwriting of Tesla's five maturity company bonds on Monday, with sales ending on Friday. Fitch Ratings rated all five parts of the bonds as investment grade, mentioning that the credit ratings of the customers accepting this financing are relatively high. According to sources, Tesla's current corporate bond issuance was oversubscribed, with an interest rate of 4.83%. This is not Tesla's first time issuing photovoltaic asset-backed securities (ABS). The company previously sold bonds in 2016 for the acquisition of SolarCity.