SpaceX closed a $25 billion multi-tranche debt offering on June 26, 2026, less than two weeks after its record-breaking IPO, according to CNBC and Yahoo Finance. The offering drew nearly $90 billion in orders from investors, allowing the company to upsize the deal from an initially targeted $20 billion.
The five-tranche senior unsecured notes mature between 2031 and 2056, with interest rates ranging from 5.35% for the shortest-dated tranche to 6.65% for the longest, according to CNBC. The largest single tranche was $7 billion of notes due in 2031 at 5.35%, with two additional $6 billion tranches carrying coupons of 5.65% and 5.875% for 2033 and 2036 maturities, Yahoo Finance reported.
SpaceX intends to use the net proceeds to repay the outstanding borrowings under its $20 billion bridge loan facility in full, to pay related fees and expenses, and for general corporate purposes, according to a company press release cited by CNBC. The bridge loan, secured in March 2026, carried an effective interest rate of 4.58%, according to SpaceX’s IPO prospectus.
The timing underscores SpaceX’s capital intensity as it pursues simultaneous expansion across multiple fronts. The company went public on June 12, 2026, raising $75 billion and valuing the company at $1.77 trillion, according to Reuters. SpaceX disclosed on the day the debt offering was announced that it held just over $100 billion in cash, according to CNBC.
The company is funding development of its Starship rockets, expanding its Starlink satellite internet business, and investing heavily in artificial intelligence initiatives, including revamping its Grok models and coding agents. SpaceX is also pursuing a $60 billion all-stock acquisition of AI-coding startup Cursor, CNBC reported. According to its IPO prospectus, SpaceX has accumulated a total loss of $41.3 billion since its founding in 2002; Starlink is currently its only profitable business segment.
The bond sale represents one of the largest in the AI era. Earlier in 2026, Oracle raised $25 billion in a bond offering, Amazon raised about $54 billion, and Alphabet pulled in about $31.5 billion in bond sales in the U.S. and Europe, according to CNBC. Banks managing the SpaceX offering included Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley.
Secondary market trading in SpaceX’s bonds has proven volatile since the June 26 settlement. Financial Times reported on June 26 that SpaceX’s bonds dropped in price just days after the offering, as investors cast doubts over the company’s debt load and capital structure. The bond sell-off underscored investor concerns about concentration risk for those holding both SpaceX equity and debt, according to CNBC coverage from June 29.
Sources
- CNBC — SpaceX debt sale details, $90 billion orders, bridge loan terms, capital uses, cash position, and comparable bond offerings
- Reuters — SpaceX IPO date (June 12, 2026), IPO amount ($75 billion), and company valuation ($1.77 trillion)
- Yahoo Finance — Tranche sizes, maturity dates, and coupon rates
- Financial Times — Secondary market bond sell-off and investor concerns post-settlement
