Story perspectives

SpaceX Raises $25B Bond, Shares Drop 20% Losing $400B

6/24/2026

Summary

SpaceX Bond Sale

SpaceX raised $25 billion through a senior unsecured corporate bond sale less than two weeks after its June 12, 2026 IPO.
The bond issue had five tranches maturing 2031-2056 with rates 5.35%-6.65%.
Proceeds will repay a $20 billion bridge loan due Sept 2, 2027 and fund corporate purposes.
After the announcement, SpaceX shares fell over 16% in one session and over 20% across three trading days, erasing about $400 billion in value.

Summary

Musk Becomes Trillionaire

Elon Musk became the world’s first trillionaire after SpaceX’s record initial public offering.
The IPO on June 12, 2026 raised nearly $86 billion, including the underwriters’ option, while order books reached almost $90 billion and the sale was upsized by $5 billion.
Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley managed the senior unsecured notes offering.
Within two weeks the company accessed debt markets, enabling a $25 billion bond sale.

History

Historical Context

The 2008 NASA award of a $1.6 billion Commercial Orbital Transportation Services contract to SpaceX proved a private firm could deliver ISS cargo, ending United Launch Alliance’s U.S. launch monopoly. Building on that, SpaceX held about 45% of global launch contracts by 2017, and on June 12 2026 went public, raising $86 billion.

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SpaceX Bond Sale

SpaceX raised $25 billion through a senior unsecured corporate bond sale less than two weeks after its June 12, 2026 IPO.
The bond issue had five tranches maturing 2031-2056 with rates 5.35%-6.65%.
Proceeds will repay a $20 billion bridge loan due Sept 2, 2027 and fund corporate purposes.
After the announcement, SpaceX shares fell over 16% in one session and over 20% across three trading days, erasing about $400 billion in value.

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