Offering Overview
Space Exploration Technologies Corp (NASDAQ:SPCX) announced the closing of a $25 billion senior unsecured note offering that was launched on 22 June 2026 and completed via a private placement under Rule 144A and Regulation S. The notes will mature over a range of five to thirty years, with interest payable semi‑annually on 15 January and 15 July beginning January 2027.
Tranche Details
The offering comprised five tranches: a $7 billion tranche bearing a 5.35 % coupon and maturing in 2031, representing the largest portion; two $6 billion tranches with coupons of 5.65 % (maturing 2033) and 5.875 % (maturing 2036); a $2.5 billion tranche at 6.60 % due 2046; and a $3.5 billion tranche at 6.65 % due 2056.
Syndicate, Trustee and Documentation
The Bank of New York Mellon Trust Company was appointed trustee under the indenture. The syndicate of initial purchasers was led by BofA Securities, Citigroup Global Markets, Goldman Sachs, J.P. Morgan Securities and Morgan Stanley. SpaceX entered into a registration rights agreement obligating it to exchange the privately placed notes for publicly registered notes within 540 days of the closing date.
Market Reaction
Following the filing, SpaceX’s shares slipped 0.5 % in after‑hours trading on Friday and have declined roughly 17 % over the week after an earlier sharp rise in its first week as a public company.