Investing.com — Space Exploration Technologies Corp (NASDAQ:SPCX) completed a $25 billion debt offering through five separate tranches of senior unsecured notes, according to a Form 8-K filed with the U.S. Securities and Exchange Commission on Friday.
The company began the offering on June 22. The transaction includes maturities spanning from 5 to 30 years.
The offering consists of $7 billion of 5.35% notes maturing in 2031, representing the largest single tranche. Two additional $6 billion tranches carry coupons of 5.65% and 5.875%, with maturity dates in 2033 and 2036.
SpaceX also sold $2.5 billion of 6.60% notes due 2046 and $3.5 billion of 6.65% notes due 2056. Interest payments on all tranches will occur twice yearly on January 15 and July 15, starting in January 2027.
The Bank of New York Mellon Trust Company serves as trustee under the indenture agreement.
The capital raise took place through a private placement targeting qualified institutional buyers under Rule 144A and non-U.S. investors through Regulation S. BofA Securities, Citigroup Global Markets, Goldman Sachs, J.P. Morgan Securities, and Morgan Stanley led the syndicate of initial purchasers.
SpaceX entered into a registration rights agreement as part of the transaction. The company committed to exchange the privately placed notes for publicly registered notes within 540 days of the closing date.
The company’s stock fell 0.5% in after-hours trade Friday following the news. SpaceX has fallen 17% over the course of this week after rising dramatically in its first week as a public company.
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