Fresh from a record IPO that helped make Elon Musk a trillionaire, SpaceX is raising at least $20bn in its debut bond sale to bankroll a vast AI build-out.
SpaceX is about to do something none of Elon Musk’s companies has done before. It is borrowing money from public bond investors.
On Monday the rocket maker kicked off its first sale of investment-grade bonds. The company is seeking to raise at least $20bn, according to Bloomberg.
The banks that provided SpaceX’s bridge financing are arranging the investor calls. They are Bank of America, Citigroup, Goldman Sachs, JPMorgan and Morgan Stanley. The new notes will carry maturities of five to 30 years.
What the money is for
