Report: SpaceX Seeking $500 Million Loan

The first Falcon 9 Block 5 booster heads for the launch pad at NASA’s Kennedy Space Center. (Credit: SpaceX)

Bloomberg reports that SpaceX wants to borrow $500 million in the leveraged loan market.

Goldman Sachs Group Inc. is leading the talks with potential investors this week, said the people, who asked not to be identified because plan is private. Spokesmen for Space Exploration Technologies Corp. and Goldman Sachs declined to comment….

SpaceX’s timing lets it take advantage of a borrower’s market in leveraged finance, even for companies like Uber and Tesla that are burning through cash. While investors have piled into loans this year in search of floating rate assets amid the Federal Reserve’s tightening, issuance has dropped by about 20 percent.