Jun. 20 at 1:47 AM
SpaceX is preparing a bond sale of at least
$20 billion, its first investment-grade dollar debt offering, following its blockbuster IPO. Investor calls could begin next week, with proceeds expected to refinance a
$20 billion bridge loan due in 2027.
The company received investment-grade ratings from Moody’s, Fitch, and S&P, helping lower future borrowing costs. Major banks involved in the deal include Bank of America, Citigroup, JPMorgan, Goldman Sachs, and Morgan Stanley.
SpaceX said it expects capital expenditures to rise substantially and plans to use both debt and equity financing to support future growth. Despite reporting a net loss of
$4.28 billion on
$4.69 billion of revenue in the first quarter, the company holds significant long-term contracts, including a
$30 billion cloud-services agreement with Google and a roughly
$45 billion deal with Anthropic.
$SPCX $BAC $C $JPM $GS