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SpaceX Raises $25B Bonds, Shares Plunge After $86B IPO

6/27/2026

Summary

Story summary

SpaceX raised $25 billion in bonds after its $86 billion IPO, prompting Allianz CIO Ludovic Subran to warn of a bubble.
Investors submitted $89 billion in orders, prompting bankers to raise the bond target to $25 billion and price the issue at a 1.1-1.75-point spread over Treasuries, with the 10-year tranche at 1.4 points.
SpaceX posted a $4.3 billion quarterly loss, with shares dropping to $152-$153 from $225 and erasing over $900 billion in market value.

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Story summary

SpaceX raised $25 billion in bonds after its $86 billion IPO, prompting Allianz CIO Ludovic Subran to warn of a bubble.
Investors submitted $89 billion in orders, prompting bankers to raise the bond target to $25 billion and price the issue at a 1.1-1.75-point spread over Treasuries, with the 10-year tranche at 1.4 points.
SpaceX posted a $4.3 billion quarterly loss, with shares dropping to $152-$153 from $225 and erasing over $900 billion in market value.