SpaceX Targets $20 Billion Debt Deal Amid Stock Volatility

SpaceX is currently in discussions with a consortium of major financial institutions, including Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley, to structure the massive debt issuance. This financing is intended to replace a substantial bridge loan that accounts for a large portion of the company’s $29.1 billion in long-term debt recorded at the end of March. While the final terms remain subject to market conditions, the move highlights the company's aggressive approach to capital management following its recent public debut.

The market reaction to the potential refinancing was immediate. SpaceX shares dropped from a previous close of $191.82 to an intraday low of $172.11 on June 18, before settling near $185. This volatility follows a period of hyper-growth that briefly pushed the company’s valuation toward $3 trillion and vaulted Elon Musk’s paper wealth to approximately $1.4 trillion. Despite the recent pullback, which reduced Musk’s net worth by roughly 4.6% according to Forbes, banking partners remain committed to the deal, citing continued institutional interest in the company’s aerospace and artificial intelligence expansion efforts.