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SpaceX has entered the public bond market with an investment-grade debt sale.

SpaceX Bonds: 23rd June 2026

Following its IPO, SpaceX has entered the public bond market with an investment-grade debt sale targeting at $20 billion. They are offering senior unsecured notes with maturities ranging from 5 to 30 years, underwritten by Wall Street giants like Goldman Sachs and JPMorgan.

The dividend (still in discussions) are based on the 10-year yield at around 6%.

This is a pivot, as SpaceX Bonds, having an investment-grade ratings from Moody’s (Baa1), Fitch (BBB+), and S&P (BBB), is now presenting itself as highly attractive to institutional investors.

How do they do this? SpaceX has over $100 billion in cash reserves, so it is strategically leveraging this debt offering to refinance a short-term bridge loan (linked to Elon Musk’s recent merger of X and xAI into SpaceX). The remaining capital is slotted for an AI infrastructure build out, no surprise then to building terrestrial and orbital Starlink data centers to support computing contracts with Big Dogs like Google and Anthropic. In a sense this is classic financing: they fund their ambitions through corporate debt markets rather than further diluting equity.