SpaceX is preparing its first investment-grade bond sale to raise at least $20 billion. Investor calls for the offering could begin as early as next week.
The company will use the proceeds to refinance a $20 billion bridge loan. This debt was originally secured in February to fund the acquisition of Elon Musk’s artificial intelligence startup, xAI.
The bond sale follows SpaceX’s record-setting initial public offering. This move secures long-term financing for the company's capital-intensive expansion into the AI sector.
The existing bridge loan is scheduled to mature in September 2027. A banking syndicate including Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley will manage the deal.