SpaceX $25B Bonds Fall Sharply in Secondary Market; Spread Widens 28bp

According to market sources, SpaceX's $25 billion bond offering experienced significant weakness in secondary trading on Thursday evening. The company's 2056-maturity debt saw credit spreads widen by up to 28 basis points from the 175 basis point level at issuance. Mark-to-market losses on the bond have reached approximately $305 million.
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