SpaceX Seeks $750 Million Loan Via New Arranger BofA
(Bloomberg) -- Elon Musk's rocket company SpaceX is planning to launch a $750 million leveraged loan this week, which will now be led by Bank of America Corp. instead of Goldman Sachs Group Inc., according to people with knowledge of the matter.
Bank of America has scheduled a Nov. 7 presentation for potential investors, said the people, who asked not to be identified because the transaction is private.
Goldman Sachs was previously leading talks between SpaceX and creditors on a smaller $500 million financing in the week of Oct. 22, people familiar with the matter said at the time.
The whisper pricing on the Goldman Sachs-led financing was at a margin of about 400 basis points more than Libor, with a new issue discount in the 99.5 area, said the people.
Representatives for Space Exploration Technologies Corp., Bank of America and Goldman Sachs declined to comment.
--With assistance from Jeannine Amodeo.
To contact the reporter on this story: Lisa Lee in New York at llee299@bloomberg.net
To contact the editors responsible for this story: James Crombie at jcrombie8@bloomberg.net, Faris Khan, Nikolaj Gammeltoft
©2018 Bloomberg L.P.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
