Tesla's (TSLA) - Get Report junk bondholders must be sitting at the edge of their seats.

The electric car maker's stock went through the roof on Tuesday following tweets from CEO Elon Musk that suggested he would be taking the company private. "Am considering taking Tesla private at $420. Funding secured," Musk tweeted Monday afternoon. "Def no forced sales. Hope all shareholders remain. Will be way smoother & less disruptive as a private company. Ends negative propaganda from shorts."

S&P Global Market Intelligence points out below that a going private transaction would be good for bondholders. Tesla's $1.8 billion in junk debt has a change in control provision that would make them whole.

"The issuer's 5.3% notes due 2025-which priced at par last August in Tesla's $1.8 billion high-yield debut, and which contain a 101 change-of-control provision-appeared to dip modestly following Musk's unconfirmed assertions, changing hands at 91.75 in midafternoon trading, from levels at 92.375 prior to his afternoon tweet.

The bonds are up roughly three points on the week, having risen from lows of 88 earlier last week, after the issuer on Wednesday unveiled better-than-expected results for its second quarter, alongside an updated production target for its crucial Model 3 sedan."

At 91 cents on the dollar, Tesla's 5.3% notes due 2025 are hovering around the all-time lows hit in late May. 

Tesla issued the $1.8 billion tranche of junk debt in Aug. 2017 at par to help fund its operations. The bonds have lost about 9% of their value since then, according to S&P Global Market Intelligence.

More on Tesla's future via TheStreet.