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SpaceX raised $25 billion through a debt sale less than two weeks after its initial public offering, with the transaction drawing nearly $90 billion in orders, according to sources familiar with the deal.
The scale of demand — nearly four times the amount ultimately raised — points to investor appetite that stretched well beyond what the company ultimately accepted.
A Debt Market That Ran Hot The $25 billion figure represents what SpaceX chose to take, not what the market was willing to give.
With nearly $90 billion in orders chasing the deal, the company had significant pricing leverage and the ability to set terms that favored the issuer.
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