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

Odaily Planet Daily News: According to sources, SpaceX's (SPCX.O) cooperative investment bank team will start investor conference calls as early as next week to discuss launching a bond issuance plan after the company completes its record-breaking IPO. Sources say the bond issuance is expected to be at least $20 billion, with investor communication starting as early as Monday; the relevant plan and timeline are still subject to change.

SpaceX plans to issue investment-grade U.S. dollar bonds for the first time, and the proceeds will be used to replace a $20 billion bridge loan due 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 accounted for the majority of the company's $29.1 billion in long-term debt. Sources say 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)