SpaceX 2056 Bonds Widen 0.32 Point in Secondary Trading
Updated
Updated · Bloomberg · Jun 26
SpaceX 2056 Bonds Widen 0.32 Point in Secondary Trading
3 articles · Updated · Bloomberg · Jun 26
Summary
0.32 percentage point wider than issue, SpaceX’s 2056 bonds were quoted Friday at as much as 2.07 percentage points above Treasuries, deepening losses on the company’s recent blockbuster sale.
That marks a further slide from the 1.75-point spread at issuance and from the 0.28-point widening reported earlier, showing the deal’s weakness is accelerating in the secondary market.
Large dealers said the move has stunned bond traders, who could not recall another recent offering that widened this sharply so soon after sale.
The unusual deterioration in a high-profile SpaceX deal points to mounting investor pressure in secondary trading even for marquee corporate issuers.