SpaceX bags $25B in bonds days after record IPO

SpaceX raised $25 billion in a senior unsecured notes offering less than two weeks after its record IPO, drawing about $90 billion in orders. The bonds were issued in five tranches due 2031–2056 with coupons from roughly 5.35% to 6.65%, and the company plans to use the net proceeds to repay its bridge loan, cover fees, and fund general corporate purposes. SpaceX, flush with over $100 billion in cash, is mobilizing capital to fund Starship development, Starlink expansion, and AI initiatives, including a $60 billion all-stock acquisition of Cursor, while continuing to post losses outside Starlink.