SpaceX turns to bond market to raise capital, reports $100.8 billion cash - Reuters
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- SpaceX kicked off a $20 billion bond sale under the SPCX ticker, per coverage from Reuters, CNBC, and Bloomberg, coming days after a record IPO.
- SpaceX disclosed a cash pile exceeding $100.8 billion, even as Bloomberg's headline flagged skeptics questioning the 'lot of leeway' in the high-grade debt's structure.
Why it matters: Borrowing $20 billion while sitting on $100.8 billion in cash is an unusual move, and Bloomberg's capture of credit-market skepticism signals bond investors want justification for the raise. The pricing and demand of this deal — SpaceX's first public-credit test post-IPO — will show whether debt markets price the company at a premium despite its already-massive liquidity.
