SpaceX trims target loan facility
November 21, 2018
By Chris Forrester
SpaceX, which last week was reportedly seeking a $750 million extra loan facility, has trimmed its demand to a more modest $250 million.
Bloomberg News is reporting that Elon Musk was still looking for the larger amount but “baulked” at the terms on offer. It was expected to be formally priced on November 20th. This will be the first debt instrument issued by SpaceX.
Bank of America is reportedly now the lead manager of the loan application.
Wall Street insiders are reporting that the privately held SpaceX business had positive EBITDA earnings last year of some $270 million.