SpaceX debuts bond sale to raise $20 billion after IPO

At slightest $20 cardinal is the people for the offering, with bonds maturing crossed a scope spanning 5 to 30 years. SpaceX said successful its SEC filing that it intends to usage the nett proceeds to repay outstanding borrowings nether its span indebtedness installation successful full, screen related fees and expenses, and use immoderate remainder to wide firm purposes.

The notes volition beryllium sold to qualified organization buyers nether Rule 144A and to non-U.S. persons nether Regulation S, the institution said. They person not been registered nether the Securities Act and whitethorn not beryllium offered oregon sold successful the United States absent registration oregon an applicable exemption.

Investor calls are being arranged by the aforesaid 5 institutions — Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley — that primitively extended the span financing to SpaceX, Bloomberg reported. The span indebtedness accounts for the bulk of SpaceX's astir $29.1 cardinal successful semipermanent debt.

SpaceX disclosed successful its filing that it held astir $100.8 cardinal successful currency and currency equivalents arsenic of June 19, 2026. The institution received investment-grade ratings from each 3 large ratings agencies up of the offering. Moody's Ratings assigned a Baa1 rating, Fitch Ratings assigned BBB+, and S&P Global Ratings assigned BBB.

Bond proceeds are besides earmarked for SpaceX's AI buildout — information centers and related infrastructure among them. Agreements with Google and Anthropic to proviso computing capableness are valued astatine astir $75 cardinal successful total. SpaceX has besides said it is exploring the operation of information centers successful space, according to CNBC.

SpaceX's IPO, which priced astatine $135 per stock and pushed the company's marketplace capitalization past $2 trillion, closed connected June 12. The offering raised astir $86 cardinal aft underwriters exercised the greenshoe allotment. During the IPO roadshow, Bret Johnsen and Gwynne Shotwell signaled to imaginable shareholders that aboriginal superior raises would travel done borrowing alternatively than caller equity issuance — efficaciously treating the IPO arsenic a one-time banal sale.

SpaceX banal fell astir 5% Monday. The diminution extended a losing streak that began past week, which included a driblet tied to MSCI assigning SpaceX its lowest imaginable ESG rating, a CCC, citing insufficient absorption of environmental, social, and governance risks.