SpaceX prices $25 billion inaugural senior notes offering in five tranches

SpaceX priced a $25 billion inaugural bond issuance on June 23, 2026, selling senior unsecured notes in five tranches. The offering comprises $7.0 billion of 5.350% notes due 2031, $6.0 billion of 5.650% notes due 2033 and $6.0 billion of 5.875% notes due 2036.

The longer-dated tranches are $2.5 billion of 6.600% notes due 2046 and $3.5 billion of 6.650% notes due 2056. SpaceX said it intends to use the net proceeds to repay its bridge loan facility borrowings in full and to pay related fees and expenses, with any remaining amount for general corporate purposes.

The notes will be unsecured obligations and will rank equally in right of payment with SpaceX's existing and future unsubordinated indebtedness. The offering is expected to settle on June 26, 2026, subject to customary closing conditions.

The notes are offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, and have not been registered under the Securities Act.