Elon Musk’s aerospace firm upsized its debt offering after $90 billion in orders from institutional investors.
SpaceX priced a $25 billion bond offering across five tranches, maturing from 2031 to 2056 with yields ranging from 5.350% to 6.650%. The company initially targeted $20 billion but expanded the deal due to overwhelming demand, with orders nearing $90 billion.
Proceeds will primarily repay a bridge loan, cover fees, and fund general corporate purposes. The notes are restricted to large institutional investors and non-U.S. buyers. SpaceX’s stock, which debuted at $150, traded at $149 in early Wednesday trading, extending recent declines.
The offering underscores strong investor appetite for high-yield corporate debt despite broader market volatility. Analysts noted the move could pressure the company to deploy capital efficiently ahead of a potential IPO.