SpaceX banks line up investor talks for potential $20 billion bond sale

SpaceX is preparing an investment-grade U.S. dollar bond offering of at least $20 billion to refinance a $20 billion bridge loan it took out earlier this year after acquiring xAI in February. Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley provided the bridge financing and are expected to lead the bond deal. The company’s valuation surged past $2 trillion after its Nasdaq debut last week, though its shares were down 6% in afternoon trading, according to Reuters.