SpaceX

Commercial space company SpaceX has been reported to be tapping the leveraged loan markets for a $500 million credit facility of which investment bank Goldman Sachs is said to be leading talks along with other potential investors.

Bloomberg reports of this citing three people familiar with the matter who asked not be identified as matters are still private. The timing of this said credit facility lets the company take advantage of a borrower’s market in leveraged finance available for companies including ones like Uber and Tesla burning through cash related to costly operations.

SpaceX

SpaceX currently valued at $28 billion on the private market brings in steady revenue by launching satellites into orbit for telecom providers, defense companies and military organizations. It has contracts with both NASA and other U.S military agencies worth billions of dollars and has completed 17 launches this year alone.

The company has also began developing a plan that will involve launching of thousand of satellites which would cover the earth with internet access and is also designing a larger rocket unveiled in 2016 dubbed the BFR which it expects to begin tests next year.

Just recently, The company also got a first customer by name of Japanese entrepreneur and Start Today founder Yusaku Maezawa who will be the first private passenger to ride in a rocket around the moon in a trip scheduled for 2023.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print