SpaceX raises $25 billion in debt sale less than two weeks after IPO
SpaceX employees go to work at SpaceX’s facility in Hawthorne, California, on June 12, 2026, when their company goes public.
Mike Blake | Reuters
Less than two weeks after its record IPO, SpaceX It raised $25 billion from debt sales.
SpaceX announced Monday senior unsecured notes Sources told CNBC that the company is looking to raise $20 billion. company Tuesday said This figure increased to 25 billion dollars. SpaceX has received orders worth about $90 billion, according to people familiar with the fundraising process who asked not to be named because the details are confidential.
Bloomberg It was the first company to report order figures.
Banks handling the bond sale include Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley.
SpaceX is tapping into debt markets shortly after the company’s blockbuster IPO that turned CEO Elon Musk into the world’s first trillionaire. The IPO raised about $86 billion, including the underwriters’ option, and SpaceX announced Monday that it now has just over $100 billion in cash.
In the debt sale, SpaceX priced the bonds in five different tranches with maturities between 2031 and 2056. Rates range from 5.35% for 2031 bonds to 6.65% for 2056 bonds. The company said in a statement: Press release It stated that it “intends to use the net proceeds from the Note Offering to repay in full all outstanding indebtedness under the bridge loan facility, pay related fees and expenses, and use the remaining proceeds for general corporate purposes.”
SpaceX received a $20 billion bridge loan in March with an effective interest rate of 4.58%. IPO prospectus.
SpaceX needs large amounts of capital to finance the development of massive Starship rockets and the expansion of its Starlink satellite internet business while paying for a wide range of artificial intelligence initiatives, including the revamp of Grok models and coding agents.
SpaceX is also continuing its $60 billion purchase of all shares of artificial intelligence coding startup Cursor.
The only profitable part of SpaceX’s business is Starlink. According to him prospectusSpaceX has lost a total of $41.3 billion since the company was founded in 2002.
The bond sale represents one of the biggest of the AI era. Earlier this year, Seer It raised $25 billion in bond offerings, amazon raised approximately $54 billion and Alphabet Approximately 31.5 billion dollars were obtained from bond sales in the USA and Europe.
WRISTWATCH: As a bottom-up principal, I can’t invest in SpaceX yet
