SpaceX, Elon Musk’s pioneering space and technology giant, has taken a bold step into the debt markets.
On Monday, the company officially commenced its inaugural offering of senior unsecured notes, marking the first time it has issued investment-grade dollar bonds.
This move comes just days after SpaceX’s record-breaking initial public offering (IPO) in mid-June, where it raised $75 billion by selling shares at $135 each. The IPO valued the company at around $1.77 trillion, making it one of the world’s most valuable public companies right from the start.
Read also: Musk reunites with South African ally to help guard SpaceX’s $2.1trn empire
Why bonds now?
The bond offering is subject to market conditions and other factors, as noted in filings. It builds on strong investment-grade credit ratings SpaceX secured in June: Moody’s gave it Baa1, Fitch BBB+, and S&P BBB. These ratings reflect confidence in the company’s strong cash position, growing
This post was originally published on this site.
