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

Odaily Planet Daily News: Sources revealed that SpaceX's (SPCX.O) investment banking team is expected to hold investor conference calls as early as next week to discuss launching a bond issuance plan following the company's record-breaking IPO. Sources said the bond issuance is expected to be at least $20 billion, with investor communications potentially starting as early as Monday; the relevant plan and timeline could still change.

SpaceX plans to issue investment-grade dollar bonds for the first time, with the proceeds used to replace a $20 billion bridge loan maturing in September 2027. SpaceX's IPO filing with the U.S. Securities and Exchange Commission shows that as of March 31, this bridge loan accounted for the majority of the company's $29.1 billion in long-term debt. Sources said 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)