Rivian eyes new debt deal as expected vehicle deliveries slump, Bloomberg News reports

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Rivian eyes new debt deal as expected vehicle deliveries slump, Bloomberg News reports

(Reuters) -Rivian Automotive is working with JPMorgan Chase on a potential high-yield bond *****, in part to refinance its upcoming debt, Bloomberg News reported on Friday, citing people familiar with the transaction.

The EV maker is looking to raise as much as $2 billion, partly to replace existing bonds that mature in 2026, the report said.

JPMorgan is sounding out investors on the bond deal, with early pricing talks suggesting a yield around 10%.

The transaction could launch as soon as next week, although the deal is still under discussion and may not proceed as planned, according to the report.

Rivian and JPMorgan did not immediately respond to Reuters’ requests for comment.

The possible debt deal comes after Rivian lowered its 2025 deliveries forecast earlier in May, as U.S. tariffs on imported vehicles and auto parts threaten to disrupt the economy and reduce demand for its electric SUVs and pickup trucks.

“About the impact of tariffs, it’s a couple of thousand dollars of cost that we’re going to see on a per-vehicle basis,” CEO RJ Scaringe told Reuters earlier this month.

Despite manufacturing its vehicles in the U.S. and sourcing most parts from North America, Rivian relies on Asian countries for essential components like lithium-ion batteries. These components are subject to significant duties, increasing the expenses for EV makers.

(Reporting by Juby Babu in Mexico City; Editing by Tasim Zahid)

This is the hidden content, please

• Sign In
• or
• Sign Up

#Rivian #eyes #debt #deal #expected #vehicle #deliveries #slump #Bloomberg #News #reports

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/