Elon Musk's SpaceX Refinances Debt With $20 Billion Bridge Loan Ahead Of Record-Breaking Summer IPO: Report

Elon Musk's SpaceX took retired a $20 cardinal span indebtedness past period to refinance overmuch of its existing indebtedness up of its planned U.S. archetypal nationalist offering, according to excerpts from a confidential regulatory filing.

Reuters connected Thursday said the borrowing came from an unidentified syndicate of lenders and that SpaceX could beryllium required to usage IPO proceeds to repay the indebtedness if it is not different paid disconnected wrong six months of the offering.

The details appeared successful a confidential S-1 filing, the signifier companies taxable to the U.S. Securities and Exchange Commission earlier going nationalist to outline their finances, operations and risks to prospective investors.

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The indebtedness replaced 5 earlier indebtedness facilities, including 2 word loans tied to Musk's societal media level X and 3 borrowings by xAI, his artificial quality company.

As a result, SpaceX's full indebtedness fell to $20.07 cardinal arsenic of March 2 from $22.05 cardinal astatine the extremity of 2024. The study by Reuters noted that the span indebtedness runs for 18 months and tin beryllium extended doubly for 3 months, fitting the modular mold of short-term financing aboriginal replaced by longer-dated debt.

SpaceX is expected to prosecute a summertime listing astatine a valuation astir $1.75 trillion, which would marque it the largest IPO ever. A March study had revealed that X and xAI were preparing to repay astir $17.5 cardinal successful indebtedness successful afloat earlier SpaceX's IPO filing, though the root of that repayment superior was not disclosed.

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The indebtedness cleanup comes adjacent arsenic SpaceX's finances amusement strain from its expanded artificial quality push. The Information, reported connected April 10, that SpaceX posted a nonaccomplishment of astir $5 cardinal successful 2025 connected gross of much than $18.5 billion. The reported nonaccomplishment included xAI, which SpaceX acquired successful February 2026.

Meanwhile, Tesla Inc.’s Q1 2026 net on Wednesday revealed a $2 cardinal equity concern successful SpaceX, aimed astatine strengthening vertical integration crossed AI, robotics, and semiconductor manufacturing.

Photo: Thrive Studios ID via Shutterstock

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