SpaceX makes $20 billion move to optimize its balance sheet

SpaceX launched a $20 billion bond offering to repay its $17.5 billion bridge loan. The notes are unsecured and rank equally with other unsubordinated debt. Proceeds also cover fees and general corporate purposes. The offering targets qualified institutional buyers and non-U.S. investors. SpaceX had $100.8 billion in cash as of June 19.