Elon Musk's SpaceX is initiating a five-tranche notes offering aiming to raise at least $25 billion for its significant AI expansion. This initiative focuses on investing in data centers, computing hardware, and power infrastructure.
The offering includes senior unsecured notes with tenors of 5, 7, 10, 20, and 30 years. Proceeds will address borrowings under its bridge loan facility and general corporate needs.
This marks SpaceX's first investment-grade dollar bond issuance, attracting nearly $85 billion in orders. Investment-grade ratings from credit agencies reflect confidence in SpaceX's financial stability and ambitious plans.
Banks managing the sale include Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley. Following a dip attributed to broader tech trends, SpaceX shares rebounded after their debut on June 12.