According to reports from the Financial Times and Reuters on June 18, SpaceX plans to meet with investors as early as next week to discuss the terms of the bond. Initial negotiations suggest that the interest rate on the 10-year bonds could be 1.35 to 1.5 percentage points higher than U.S. Treasury rates, although the final rate and amount may vary based on market conditions.
The funds raised are expected to be used to repay a $20 billion bridge loan that CEO Elon Musk secured following the merger of xAI and X with SpaceX. A bridge loan is a short-term loan used until permanent financing is secured.
Last week, SpaceX raised $75 billion from its IPO, surpassing Saudi Aramco to set a new record for the largest IPO in history. Some reports indicate that the total amount, including options exercised by underwriters, could rise to approximately $86 billion.
This bond offering aligns with a trend among major tech companies utilizing both equity and bond markets to fund AI investments. As costs for developing AI models, data centers, and securing semiconductors continue to rise, big tech firms are increasingly reliant on market financing.
Nvidia issued $25 billion in bonds this week, while Anthropic is reportedly seeking to raise significant funds through bonds ahead of its IPO, targeting institutional investors such as Blackstone and Apollo.
International credit rating agency Moody's has assigned SpaceX a long-term issuer rating of Baa1. While Moody's views SpaceX's position in the space launch market and its Starlink satellite communications business positively, it also noted that the substantial investments required for AI expansion could pose risks to its credit rating.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.