Elon

Elon asked about the moving pieces on the revolver quarter-over-quarter, funding on the new RCF, the current balance, plans to term out the balance via new debt, and interest in tapping equity to shore up the balance sheet.

Answer

Phil Lister (Executive Vice President and CFO) stated no interest in tapping equity. He detailed the new $800 million revolver, extended $300 million securitization program, and over $400 million cash at year-end, totaling $1.5 billion liquidity with $500 million borrowed. He sees no current need to term out borrowing, noting an accordion up to $400 million.