When it comes to Tesla (TSLA) - Get Report and a controversy surrounding CEO Elon Musk, the company's 5.3% bonds due in 2025 are always a thing to watch. 

The bonds came back a tad on Monday after Musk announced on Friday what many anticipated -- that there would be no take-private transaction for the money-losing electric-car company.

When speculation raged that Tesla could indeed go private, there was some thought that such a move would include heavy debt financing, which Moody's Investor Service said would have been credit negative. But it later turned out Musk was talking about a deal with the Saudi Arabian Sovereign Wealth Fund, which would have included no debt. 

Tesla's 5.3% bonds are usually a goof barometer of the market's assessment of the firm's long-term creditworthiness. The company's strategy to raise debt to fund new operations hinges on its ability to grow revenues. But with a U.S. Securities and Exchange Commission investigation, a CEO who told The New York Timeshe's been on Ambien and rising competition from other electric vehicle makers, Tesla bonds aren't exactly skyrocketing. 

Still, the bonds traded higher Monday, although S&P Global Market Intelligence told TheStreet that trading activity was light.