SpaceX CEO Elon Musk Photo: AP/Damian Dovarganes

INTERNATIONAL – Elon Musk’s Space Exploration Technologies Corp, known as SpaceX, is looking to line up a $750 million (R 10 bn) leveraged loan, sources said.

Bank of America Merrill Lynch is leading the transaction. A lenders presentation will be held by the SpaceX management team on November 7.

SpaceX makes rockets and spacecraft. The company was founded by Elon Musk in 2002 as a way to help humans live on other planets.

The Hawthorne, Calif.-based company now employs more than 6,000 people, according to its website. Elon Musk is also the chief executive of luxury electric car maker Tesla Motors Inc.

BAML and SpaceX did not immediately return requests for comment.

In October, the company was also looking to borrow $500 million (R7.2 billion) in the leveraged loan market through Goldman Sachs, which is leading talks with potential investors this week, Bloomberg reported.

The news comes weeks after SpaceX picked Japanese billionaire Yusaku Maezawa as its first private passenger on a voyage around the moon.