Business & Finance
Bond Traders Stunned as Losses on SpaceX’s New Debt Keep Growing
Key Points
Bond Traders Stunned as Losses on SpaceX’s New Debt Keep Growing SpaceX’s blockbuster bond sale is weakening so quickly in the secondary market that traders say they can’t recall another recent deal that widened this sharply. One large dealer was quoting SpaceX bonds maturing in 2056 at levels as much as 0.28 percentage point wider than the issue price of 1.75 percentage points above Treasuries, according to people with knowledge of the matter, who asked not to be identified discussing...
Bond Traders Stunned as Losses on SpaceX’s New Debt Keep Growing
SpaceX’s blockbuster bond sale is weakening so quickly in the secondary market that traders say they can’t recall another recent deal that widened this sharply.
One large dealer was quoting SpaceX bonds maturing in 2056 at levels as much as 0.28 percentage point wider than the issue price of 1.75 percentage points above Treasuries, according to people with knowledge of the matter, who asked not to be identified discussing private activity in the over-the-counter market.