Lates News

Informed sources revealed that the collaboration team of Elon Musk's SpaceX is set to hold investor conference calls as early as next week to discuss plans for a bond issuance following the company's record-breaking IPO. The undisclosed sources mentioned that the bond issuance is expected to be at least $20 billion, with investor communication set to begin as early as Monday; however, the details of the plan and timing are subject to change. This comprehensive enterprise, which focuses on rockets, satellites, and AI businesses, plans to issue investment-grade USD bonds for the first time, with the proceeds being used to replace a $20 billion bridge loan due in September 2027. According to the 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. The sources mentioned that U.S. Bank, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley jointly provided the bridge loan and will lead the underwriting of the bond issuance.