SpaceX launched its inaugural bond offering on Monday, announcing plans to raise $20 billion through senior unsecured notes just 10 days after the company’s record-setting initial public offering. The move marks the space and artificial intelligence company’s first foray into the investment-grade debt market as a public company, according to CNBC and Reuters.
The company disclosed in the offering announcement that it held approximately $100.8 billion in cash and cash equivalents as of June 19, 2026, Reuters reported. SpaceX plans to use the bond proceeds to pay off a $20 billion bridge loan that was taken out in March 2026 following the company’s merger with Elon Musk’s AI startup xAI, along with other general corporate purposes, according to CNBC.
SpaceX completed its historic IPO on June 12, raising a record $75 billion on the sale of 555.56 million shares at $135 per share, valuing the company at $1.77 trillion, according to Reuters. Shares surged 19 percent on the first day of trading and continued climbing in subsequent sessions, briefly pushing SpaceX’s market value past Amazon and ahead of major tech giants including Meta and Tesla.
The bridge loan that SpaceX is now refinancing came due in September 2027 and was structured to help the company manage debt from the xAI acquisition, Reuters and Investing.com reported. The loan replaced approximately $17.5 billion in higher-interest debt that xAI had accumulated before the merger, according to sources cited in the coverage. Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley provided the bridge financing and are expected to run the bond deal, South China Morning Post reported.
The bond announcement came as SpaceX is pursuing an ambitious expansion into artificial intelligence and data center infrastructure. The company is investing heavily in AI capabilities and has announced plans that include eventually building data centers in space, CNBC reported. Despite the strong cash position and recent IPO success, shares fell approximately 5 percent following the bond offering announcement, according to CNBC.
SpaceX’s $29.1 billion in long-term debt includes the bridge loan being refinanced, according to the Los Angeles Times. The inaugural bond offering represents a significant milestone for the newly public company, which is accessing traditional capital markets to lock in long-term financing at investment-grade rates following its successful market debut.
Sources
- CNBC — SpaceX bond sale announcement, cash position, and stock reaction
- Reuters — IPO details, bond offering announcement, cash disclosure, and bridge loan background
- Financial Times — Bridge loan context and xAI merger details
- Investing.com — Bridge loan maturity date and refinancing purpose
- South China Morning Post — Banking syndicate details
- Los Angeles Times — SpaceX long-term debt figures
