SpaceX bankers weigh up to $20B bond sale to refinance debt as SPCX slides 9%

SpaceX is exploring a bond sale of up to $20 billion to refinance a bridge loan maturing in September 2027, with long-term debt at about $29.1 billion. The plan has revived concerns about leverage, sending SPCX down 9% to $174.49. The company’s recent IPO valued it above $3 trillion, but investors have grown more cautious about debt sustainability in high-growth tech names. The move is most directly tied to SPCX, with spillover pressure on similarly high-valuation peers such as Amazon and Microsoft.