June 23 (Reuters) – Elon Musk’s SpaceX has launched a five-tranche notes offering aimed at raising at \u200cleast $25 billion, a source familiar with the \u200cmatter said on Tuesday, as the newly public company seeks funding \u200bfor its capital-intensive AI expansion.<\/p>\n
SpaceX’s AI ambitions carry a hefty price tag, requiring tens of billions of dollars in investment in data centers, computing hardware and power \u200cinfrastructure.<\/p>\n
The offering consists of \u20605-year, 7-year, 10-year, 20-year, 30-year tenor senior unsecured notes, according to a document seen \u2060by Reuters. Proceeds will be used to repay borrowings under its bridge loan facility as well as for \u200bgeneral corporate \u200bpurposes.<\/p>\n
The offering, which is \u200bSpaceX’s first investment-grade dollar \u200cbond issuance, has drawn nearly $85 billion in orders, the source said.<\/p>\n
SpaceX did not immediately respond to a Reuters request for comment.<\/p>\n
Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley are managing the sale, \u200caccording to the document.<\/p>\n
Credit rating \u200bagencies assigned the company investment-grade ratings \u200blast week, signaling \u200bconfidence in SpaceX’s financial stability as it \u200cmoves forward with its costly \u200bAI plans.<\/p>\n
The \u200brockets-to-AI firm’s shares rebounded on Tuesday, following a recent selloff tied to a broader tech pullback, \u200bafter a blockbuster \u200cdebut on June 12.<\/p>\n
(Reporting by Nupur Anand in \u200bNew York and Juby Babu in Mexico \u200bCity; Editing by Vijay Kishore)<\/p>\n","protected":false},"excerpt":{"rendered":"June 23 (Reuters) – Elon Musk’s SpaceX has launched a five-tranche notes offering aimed at raising at \u200cleast…\n","protected":false},"author":2,"featured_media":756696,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[49,48,250,36902,270033,66,306,6888,270032],"class_list":["post-756695","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-ca","tag-canada","tag-elon-musk","tag-hefty-price-tag","tag-power-infrastructure","tag-science","tag-space","tag-spacex","tag-unsecured-notes"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/756695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=756695"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/756695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/756696"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=756695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=756695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=756695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}