What Happened
Elon Musk's Company Seeks $20 Billion In Investment Grade Debt
SpaceX is launching a bond sale to raise at least $20 billion, following its record $75 billion initial public offering. The company, led by Elon Musk, is seeking to refinance a bridge loan and fund its AI ambitions. Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are arranging calls with investors. This move is expected to be the start of a massive borrowing spree, with proceeds used to support the company’s growth plans, as reported by the Los Angeles Times.