SpaceX plans to issue at least $20 billion in bonds to replace bridge loans

Odaily reported that according to sources, the investment banking team collaborating with SpaceX (SPCX.O) is expected to hold investor conference calls as early as next week to discuss launching a bond issuance plan after the company completes its record-breaking IPO. Sources indicated that the bond issuance is expected to be at least $20 billion, with investor outreach potentially starting as early as Monday; the relevant plans and timelines are still subject to change.

SpaceX plans to issue investment-grade dollar-denominated bonds for the first time, and the proceeds from the bond issuance will be used to replace a $20 billion bridge loan due in September 2027. According to IPO filing documents submitted by SpaceX to the U.S. Securities and Exchange Commission, as of March 31, this bridge loan accounted for the majority of the company's $29.1 billion in long-term debt. Sources said that Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley jointly provided this bridge loan and will lead underwrite the bond issuance. (Jin Shi)