TradingKey – According to Bloomberg, SpaceX’s debut bond offering in the US investment-grade bond market has met with massive demand. The five-tranche bond sale received a total of $89 billion in market orders, representing an oversubscription rate of over four times, placing it among the largest US corporate bond issuances of the year.

The $20 billion to $25 billion bond offering ultimately secured $89 billion in market demand, oversubscribed by more than four times. The launch spread narrowed by 25 basis points from initial guidance to 175 bps, with the longest-maturity tranche locked in at 2056. Both the subscription heat and pricing levels clearly demonstrate the bond market’s strong recognition of the company’s long-term solvency.

Source link