SpaceX Launches First Bond Offering for $20 Billion Bridge Loan Repayment on Monday

According to Bloomberg, SpaceX launched its inaugural bond offering on Monday, seeking to raise at least $20 billion to repay its bridge loan facility, which represents the majority of its $29.1 billion total debt. The company, which listed on Nasdaq earlier this month, disclosed $100.8 billion in cash and cash equivalents as of June 19.

Fitch Ratings assigned a BBB+ rating to the senior unsecured notes, while Moody's assigned a Baa1 rating with stable outlook. Both agencies cited SpaceX's dominant position in orbital launches, Starlink's recurring revenue, and the company's strong liquidity profile as key credit strengths.