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On June 24, SpaceX plans to issue bonds for the first time, aiming to raise $25 billion to test fixed-income investors' confidence in its ambitious vision. The Texas-based company, which is involved in rocket manufacturing and artificial intelligence, is increasing its investment to expand its business, and this bond issuance is seen as a bellwether for future financing. A source from a buy-side institution said on Monday that banks expect the deal to leave a positive impression by offering investors good returns, as SpaceX may seek to refinance another $10 billion in the coming years. The bond issuance will have maturities ranging from 5 to 30 years. Currently, large-cap tech stocks are experiencing a new round of declines amid market concerns over high valuations and the prospect of rising interest rates.
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