Rivian Stock Goes Red After Offering $1.25 Billion Green Bond To Refinance 2026 Debt

Rivian Automotive, Inc RIVN stock traded lower Monday by about 2.86% after the electric vehicle company announced plans to offer $1.25 billion in senior secured green notes due 2031 in a private offering.

The EV manufacturer plans to use the offering proceeds and cash on hand to redeem $1.25 billion of outstanding floating rate senior secured notes due 2026 and pay related fees and expenses.

Rivian held $7.2 billion in cash and equivalents as of March 31.

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Riavian stock is up close to 10% year-to-date and over 27% in the last 12 months.

Rivian had a better-than-expected first quarter 2025, reporting quarterly revenue of $1.24 billion, a 3% increase. However, Rivian slashed its delivery projections for 2025 amid tariff uncertainty, which could raise the company’s cost per vehicle.

Rivian CEO RJ Scaringe had voiced the company’s plans for the R2, which is seen as an affordable option in Rivian’s otherwise costly line-up of SUVs and Pickup trucks.

The car maker also expanded its facility in Normal, Illinois, with a $120 million investment, which could create hundreds of jobs as the company reaffirmed its U.S.-centric supply chain.

CNBC’s Jim Cramer said Rivian is better than Lucid Group LCID.

Price Action: Rivian shares are trading lower at aruond $14.12 at last check Monday.

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