When the two most hyped companies in tech hit the bond market in the same month, records tend to fall. That’s exactly what happened in June, as Nvidia and SpaceX collectively sought more than $45 billion in investment-grade debt, propelling US corporate bond sales to their highest monthly total ever.
Nvidia’s $25 billion blockbuster
Nvidia returned to the bond market on June 15 after a five-year absence. The chipmaker priced a $25 billion multi-tranche offering, upsized from an initial $20 billion target after investor demand made the original figure look quaint.
Orders exceeded $85 billion across seven tranches, with maturities stretching as far out as 2056. Investors were willing to lend Nvidia more than three times what it asked for.
SpaceX makes its debut
