When it comes to Tesla (TSLA) 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 Times he'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.

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