SpaceX attracted $89 billion in orders for its first investment-grade bond sale, seeking to raise up to $25 billion to refinance a bridge loan from its IPO.

SpaceX shares have pulled back 3-6% from post-IPO highs as the company prepares a $20 billion bond sale to refinance its xAI acquisition bridge loan.

June 22 : Elon Musk's SpaceX turned to the bond market for the first time, capitalizing on a post-IPO momentum that has vaulted its cash reserves past $100 billion as the…