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Tesla Ceo Musk's Spacex Has Tapped The Risky Leveraged Loan Market

by businessinsider.com posted 1month ago 20 views
SpaceX, one of Tesla CEO Elon Musk's major business ventures, tapped the risky leveraged loan market. The $250 million deal received a mixed reception from investors given SpaceX's cash burning history. The company previously relied on private equity funding but now follows Tesla in tapping debt markets. Elon Musk is loving high yield debt. SpaceX took a leveraged loan worth $250 million on Monday, having initially sought to borrow as much as $750 million, according to numerous reports. The smaller loan was taken as a result of deteriorating credit conditions during the fundraising period.

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