Rivian just locked in a $1B loan from Volkswagen — 10-year term at 6.03% fixed, funded back in October.
The interesting part: it's non-recourse. If things go south, VW can only claim Rivian's 50% stake in their joint venture. Rivian itself isn't on the hook.
Cash goes toward general corporate needs. Repayment kicks off in year 3 at $100M annually, with the balance due in 2036.
Smart structure for Rivian — limits downside risk while keeping the lights on.
The interesting part: it's non-recourse. If things go south, VW can only claim Rivian's 50% stake in their joint venture. Rivian itself isn't on the hook.
Cash goes toward general corporate needs. Repayment kicks off in year 3 at $100M annually, with the balance due in 2036.
Smart structure for Rivian — limits downside risk while keeping the lights on.