Tesla plans $800 million debt sale backed by prime leases, Bloomberg News reports

(Reuters) -Tesla is preparing to sell $783 million in debt, backed by automotive leases from its prime borrowers amid a surge in similar asset-backed securities within the industry, Bloomberg News reported on Thursday.

The deal, run by Societe Generale (OTC:SCGLY), is expected to be priced next week, Bloomberg News reported, citing a person familiar with the matter.

The electric vehicle maker did not immediately respond to a Reuters request for comment.

Tesla (NASDAQ:TSLA), like other major US automakers, is tapping into the asset-backed securities market to raise capital.