SpaceX bankers plan investor calls next week ahead of a potential $20 billion bond offering. The company is entering investment-grade debt markets for the first time, with the bond expected to refinance a $20 billion bridge loan expiring in 2027. Investment-grade BBB ratings from Moody’s, Fitch, and S&P have made the large-scale refinancing possible.
Banker teams for SpaceX are preparing investor calls starting as early as Monday. This move marks a major shift in financing strategy as the company explores high-grade dollar debt issuance for the first time.
The planned bond is expected to total at least $20 billion. The recent BBB credit ratings from Moody’s Ratings, Fitch Ratings, and S&P Global Ratings made this borrowing more favorable.
The SpaceX Banker consortium includes major Wall Street institutions like Bank of America, JPMorgan Chase, Citigroup, Goldman Sachs Group, and Morgan Stanley. These banks will underwrite and place the bond among institutional investors.
A significant portion of the bond is expected to refinance a $20 billion bridge loan expiring in 2027. This loan constitutes a major part of SpaceX’s $29.1 billion in long-term debt.
The debt push follows the company’s successful IPO and expanding investor base. The financing strategy aims to support technological expansion and capital expenditure needs.
SpaceX has reported multi-billion dollar losses alongside growing revenue. Its future cash flow is supported by major long-term contracts with Alphabet and Anthropic.
