SpaceX's Investment Banking Team is preparing for a bond issuance of at least $20 billion

BlockBeats News, June 19th – Sources revealed that SpaceX (SPCX.O)'s investment bank team is expected to hold an investor conference call as early as next week to discuss a bond issuance plan following the company's record-breaking IPO.

Sources stated that the bond issuance is expected to be at least $20 billion, with investor discussions set to begin as early as Monday; however, the details and timeline are subject to change. SpaceX plans to issue investment-grade USD bonds for the first time, with the proceeds intended to refinance a $20 billion bridge loan due in September 2027.

According to SpaceX's IPO filing with the SEC, as of March 31st, this bridge loan accounts for the majority of the company's $29.1 billion long-term debt. Sources mentioned that Bank of America, Citigroup, JPMorgan, Goldman Sachs, and Morgan Stanley jointly provided the bridge loan and will lead the underwriting of this bond issuance.