SpaceX is planning to raise $20bn in a bond sale as soon as next week, days after Elon Musk’s AI-to-rockets company clinched the biggest initial public offering in history.
The company has mandated Wall Street banks to pitch the fixed-income deal to investors, according to people familiar with the matter. One of the people said the 10-year debt is expected to be priced at around 1.35 to 1.5 percentage points above US Treasuries during initial discussions.
The proceeds would be used to pay back a $20bn bridge loan that SpaceX took out in March after Musk merged his debt-laden AI start-up, xAI, and social media platform X into the rocket company, a second person said. Final pricing and deal size will depend on market conditions, the people added.