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

Odaily reported that according to sources, SpaceX's (SPCX.O) team of investment banks is expected to initiate conference calls with investors as early as next week to discuss launching a bond issuance plan following the company's 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 timeline are still subject to change.

SpaceX plans to issue investment-grade USD bonds for the first time, with the proceeds used to replace a $20 billion bridge loan maturing in September 2027. According to SpaceX's IPO filing submitted to the U.S. Securities and Exchange Commission, as of March 31, this bridge loan constituted 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 underwriting for the bond issuance. (Jin Shi)