INTERNATIONAL - Elon Musk’s rocket and spacecraft company SpaceX on Wednesday circulated pricing on a proposed $750 million term loan that will put cash on the company’s balance sheet, two sources said.
The company floated pricing in the 400bp-425bp over Libor range with a 0% floor and a discount of 99. The loan will have six months of soft call protection at 101.
Bank of America Merrill Lynch is leading. Commitments are due November 16.
As it markets the deal among potential investors, SpaceX is keeping close tabs on the company’s financials, according to sources.
However, this secrecy has not deterred interest from the investment community.