According to Bloomberg, SpaceX's first issuance of U.S. investment-grade corporate bonds attracted subscription orders of up to 89 billion USD, nearly four times oversubscribed. The bond issuance aims to raise 20 to 25 billion USD, mainly to refinance bridge loans related to xAI and X platform integration, as well as to support subsequent massive capital expenditures on AI and Starship.
（Background: SpaceX victim laments! Lost all 18,000 USD university tuition, $SPCX fell below issuance price）
（Additional background: SpaceX has consecutively fallen below $150 opening price for three days, female stock goddess increased ARK holdings by nearly 300 million USD in a contrarian move）
Table of Contents
Toggle
Raising up to 25 billion USD, targeting xAI and Starship
Nearly four times oversubscribed, contrasting bond and stock markets
Tech giants' financial strategies: locking in long-term low-interest funds
Elon Musk's space exploration company SpaceX's influence in the capital markets is spreading from the stock market to the bond market. According to the latest report published by Bloomberg on June 23, 2026, SpaceX's first issuance of U.S. investment-grade corporate bonds immediately sparked a frenzy in the fixed income market, attracting subscription orders totaling up to 89 billion USD.
This bond issuance plan comes just weeks after SpaceX set a record with its initial public offering (IPO). At that time, SpaceX raised about 86 billion USD with an over-allotment option (Greenshoe), achieving an astonishing valuation of 1.75 to 1.8 trillion USD. Now entering the bond market again, the company demonstrates its unparalleled ability to attract capital to the world.
Raising up to 25 billion USD, targeting xAI and Starship
The report indicates that SpaceX's bond issuance target size is between 20 and 25 billion USD, with maturities ranging from 5 to 30 years. These bonds have quickly received a "BBB" investment-grade rating from major credit rating agencies, a rapid recognition that is a key driver in attracting institutional investors.
Regarding the use of funds, SpaceX mainly plans to refinance a bridge loan of about 20 billion USD—closely related to the integration plans of xAI and the X platform. Additionally, the remaining funds will be used for general corporate operations and to support substantial capital expenditures (Capex) on AI, Starlink, and Starship projects.
Nearly four times oversubscribed, contrasting bond and stock markets
Notably, according to financial data up to mid-June, SpaceX's cash holdings have already exceeded 100 billion USD. Despite holding abundant cash, fixed income investors remain enthusiastic, with order demand reaching 3.5 to 4 times the expected issuance scale, demonstrating high confidence in Musk's enterprise.
This sharply contrasts with SpaceX's recent stock market performance. Due to the overall weakness of tech stocks and market concerns over its short-term cash burn, SpaceX's stock price has experienced significant sell-offs in recent trading days, with market value evaporating by hundreds of billions of USD.
Tech giants' financial strategies: locking in long-term low-interest funds
From a macroeconomic and corporate finance perspective, SpaceX's actions align with current trends among large tech and AI-related companies. Just as AI chip leader NVIDIA recently issued large amounts of debt, these tech giants, despite holding vast cash reserves, actively enter the bond market. Their core purpose is to leverage the current investment-grade interest rate environment to lock in long-term and stable financing costs, optimizing their balance sheets to cope with future astronomical R&D expenditures.
It is understood that these highly sought-after bonds are expected to be priced shortly. Analysts anticipate that their yields will carry a certain premium over U.S. Treasuries, reflecting market cautiousness regarding SpaceX's aggressive growth trajectory and future execution risks, with moderate risk pricing and prudence.
SpaceX 首發投資級公司債「狂吸 890 億鎂」！超額認購近 4 倍，馬斯克為 xAI 與星艦鋪路
According to Bloomberg, SpaceX's first issuance of U.S. investment-grade corporate bonds attracted subscription orders of up to 89 billion USD, nearly four times oversubscribed. The bond issuance aims to raise 20 to 25 billion USD, mainly to refinance bridge loans related to xAI and X platform integration, as well as to support subsequent massive capital expenditures on AI and Starship.
（Background: SpaceX victim laments! Lost all 18,000 USD university tuition, $SPCX fell below issuance price）
（Additional background: SpaceX has consecutively fallen below $150 opening price for three days, female stock goddess increased ARK holdings by nearly 300 million USD in a contrarian move）
Table of Contents
Toggle
Elon Musk's space exploration company SpaceX's influence in the capital markets is spreading from the stock market to the bond market. According to the latest report published by Bloomberg on June 23, 2026, SpaceX's first issuance of U.S. investment-grade corporate bonds immediately sparked a frenzy in the fixed income market, attracting subscription orders totaling up to 89 billion USD.
This bond issuance plan comes just weeks after SpaceX set a record with its initial public offering (IPO). At that time, SpaceX raised about 86 billion USD with an over-allotment option (Greenshoe), achieving an astonishing valuation of 1.75 to 1.8 trillion USD. Now entering the bond market again, the company demonstrates its unparalleled ability to attract capital to the world.
Raising up to 25 billion USD, targeting xAI and Starship
The report indicates that SpaceX's bond issuance target size is between 20 and 25 billion USD, with maturities ranging from 5 to 30 years. These bonds have quickly received a "BBB" investment-grade rating from major credit rating agencies, a rapid recognition that is a key driver in attracting institutional investors.
Regarding the use of funds, SpaceX mainly plans to refinance a bridge loan of about 20 billion USD—closely related to the integration plans of xAI and the X platform. Additionally, the remaining funds will be used for general corporate operations and to support substantial capital expenditures (Capex) on AI, Starlink, and Starship projects.
Nearly four times oversubscribed, contrasting bond and stock markets
Notably, according to financial data up to mid-June, SpaceX's cash holdings have already exceeded 100 billion USD. Despite holding abundant cash, fixed income investors remain enthusiastic, with order demand reaching 3.5 to 4 times the expected issuance scale, demonstrating high confidence in Musk's enterprise.
This sharply contrasts with SpaceX's recent stock market performance. Due to the overall weakness of tech stocks and market concerns over its short-term cash burn, SpaceX's stock price has experienced significant sell-offs in recent trading days, with market value evaporating by hundreds of billions of USD.
Tech giants' financial strategies: locking in long-term low-interest funds
From a macroeconomic and corporate finance perspective, SpaceX's actions align with current trends among large tech and AI-related companies. Just as AI chip leader NVIDIA recently issued large amounts of debt, these tech giants, despite holding vast cash reserves, actively enter the bond market. Their core purpose is to leverage the current investment-grade interest rate environment to lock in long-term and stable financing costs, optimizing their balance sheets to cope with future astronomical R&D expenditures.
It is understood that these highly sought-after bonds are expected to be priced shortly. Analysts anticipate that their yields will carry a certain premium over U.S. Treasuries, reflecting market cautiousness regarding SpaceX's aggressive growth trajectory and future execution risks, with moderate risk pricing and prudence.