Rivian’s earlier-than-expected bond issuance this month was aimed at strengthening the electric-vehicle maker’s balance sheet before geopolitical risks make borrowing costlier and does not reflect concerns about its operations, its CEO said on Tuesday.
Following a $1.3-billion capital raise in March, Rivian had said it had enough money to last it through 2025. But it said this month it would issue $1.5 billion, sparking concerns among investors and some suppliers about the company’s financial health and sending shares plummeting.
