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SpaceX Bankers Preparing for Bond Sale of at Least $20 Billion

SpaceX completed a debt sale raising $25 billion following its record IPO. The company intends to use the funds for AI infrastructure and to repay bridge financing. It recently disclosed a cash reserve of approximately $100.8 billion.

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What changed

The company has successfully raised $25 billion, exceeding the initial $20 billion target.

Live updates

  1. SpaceX Raises $25 Billion in Debut Bond Sale

    SpaceX completed a debt sale raising $25 billion following its record IPO. The company intends to use the funds for AI infrastructure and to repay bridge financing. It recently disclosed a cash reserve of approximately $100.8 billion.

    What's confirmed:

    • SpaceX raised $25 billion in a debt sale.
    • The bond offering is for senior unsecured notes.
    • SpaceX will use the proceeds to fund AI infrastructure and repay bridge financing.
    • The company holds about $100.8 billion in cash.

    Still unconfirmed:

    • The debt sale saw nearly $90 billion worth of orders.
    • Three major credit agencies assigned the company BBB-tier investment-grade ratings as of Thursday.
    confidence 90%

  2. SpaceX Bankers Begin Marketing for First Bond Sale

    Bankers for SpaceX are starting investor calls to discuss a potential bond offering. This follows a record $75-billion IPO. The company intends to use the funds for AI ambitions.

    What's confirmed:

    • SpaceX is launching its first investment-grade bond offering.
    • The company previously completed a record $75-billion IPO.
    • SpaceX shares have declined following the IPO.

    Still unconfirmed:

    • The bond sale is the start of a massive borrowing spree to fund AI ambitions.
    • Bankers may hold investor calls as soon as next week.
    • The bond sale is valued at $20 billion.
    confidence 80%

  3. SpaceX Bankers Prepare Bond Sale of at Least $20 Billion

    SpaceX is planning a bond offering of at least $20 billion following its initial public offering. The company has received investment-grade ratings from major agencies. Proceeds are intended to refinance debt.

    What's confirmed:

    • SpaceX bankers are preparing a bond sale of at least $20 billion.
    • Fitch assigned SpaceX a BBB+ rating with a stable outlook.
    • Moody's gave SpaceX a Baa1 rating with a stable outlook.
    • S&P assigned SpaceX a BBB credit rating.
    • The company received investment-grade ratings from three major agencies.

    Still unconfirmed:

    • The bond sale will refinance xAI acquisition debt.
    • The offering aims to fund Starship and Starlink to avoid diluting Elon Musk's 80% voting control.
    • Proceeds will refinance a bridge loan maturing in September 2027.
    confidence 90%