SpaceX 2056 Bonds Widen 0.28 Point in Secondary Trading, Deepening Losses
Updated
Updated · Bloomberg · Jun 26
SpaceX 2056 Bonds Widen 0.28 Point in Secondary Trading, Deepening Losses
3 articles · Updated · Bloomberg · Jun 26
Summary
SpaceX’s newly issued 2056 bonds were quoted as much as 0.28 percentage point wider than their sale level, pushing losses deeper for investors who bought the deal.
One large dealer showed the bonds at about 2.03 percentage points above Treasuries, versus the 1.75-point spread at issuance, according to people familiar with the over-the-counter market.
Traders said the move was unusually sharp for a recent bond sale, with some saying they could not recall another new issue that weakened this quickly after pricing.
The slide hits a blockbuster SpaceX debt offering that had entered the market with strong attention, but is now drawing scrutiny for the speed of its secondary-market deterioration.