SpaceX US$20bn unsecured bridge loan refinancing X and xAI debt
Repaid the X B-1 and B-3 term loans, the xAI fixed and floating rate loans and the xAI 12.5% senior secured notes after the xAI merger; repaid in full from the June 2026 notes
Key terms
- Borrower or issuer
- SpaceX
- Date
- 2 Mar 2026
- Type
- Bank facility
- Amount
- US$20bn
- Pricing
- Term SOFR + 0.75% to 1.75% depending on SpaceX's debt rating, plus duration fees of 0.125%
- Maturity
- 2 Sep 2027 (2 Mar 2028 if extended)
Recorded terms
- Structure
- Unsecured bridge term loan; two three-month extensions at SpaceX's option for a 0.25% fee each
- Lenders and arrangers
- Bank syndicate; Goldman Sachs Bank USA as administrative agent and lender
- Country
- US
Parties
- SpaceX borrower or issuer
- Lenders: Goldman Sachs
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More from SpaceX
| Date | Financing | Type | Amount |
|---|---|---|---|
| 23 Jun 2026 | SpaceX US$25bn inaugural senior notes (five tranches) | Bond | US$25bn |
| May 2026 | SpaceX revolving credit facility upsized to US$5bn | Bank facility | US$5bn |
| 7 Feb 2025 | SpaceX US$1.5bn five-year revolving credit facility | Bank facility | US$1.5bn |
M&A and investment involving SpaceX
| Date | Deal | Type | Value |
|---|---|---|---|
| 8 Oct 2026 | SpaceX purchase of an 800 MHz spectrum portfolio | M&A Announced | Not disclosed |
| 14 Aug 2026 | SpaceX acquisition of Cursor (Anysphere) | M&A | US$60bn |
| 12 Jun 2026 | SpaceX IPO on Nasdaq | IPO | US$86.25bn |
| 2 Feb 2026 | SpaceX acquisition of xAI | M&A | US$250bn |
| 8 Sep 2025 | SpaceX purchase of EchoStar AWS-4 and H-block spectrum | M&A Announced | US$17bn |
| 20 Jul 2022 | SpaceX equity raise of US$250m | Venture round | US$250m |
Sources
About this record
Record ORB-2026-0026, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
