SpaceX draws $89 billion in demand for its debut bond sale, one of the largest US offerings this year
TL;DR
SpaceX drew $89 billion in demand for its debut bond sale, seeking $20 to $25 billion across five tranches to refinance bridge loan debt.
SpaceX has drawn roughly $89 billion in investor demand for its debut US bond sale, Bloomberg reported on Tuesday, setting the stage for one of the largest investment-grade offerings this year. The company is seeking to raise between $20 billion and $25 billion from a five-tranche deal expected to price on Tuesday. At the lower end of that range, demand would exceed the offering by more than four times.
Price talk on the longest-dated tranche, which matures in 2056, tightened by about a quarter of a percentage point to 1.75 percentage points above Treasuries. The five banks managing the sale, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Bank of America, and Citigroup, either declined to comment or did not respond to requests for comment.
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