Other DebtActive
SpaceX Bridge Loan
SPCX-Sep27
$160.95▲ 19.22%
BTC Holdings
18,712 BTC
Total Debt
$29.13B
Leverage
1103.6%
mNAV
1748.92x
Outstanding
$20.00B
2026-03-02
Issue date
2026-03-02
Principal
$20.00B
Coupon
—
Maturity
2027-09-02
Conversion price
—
- Guaranteed by X Corp., X.AI LLC, and CTC Property LLC
- Two three-month extension options to a final extended maturity in March 2028
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior unsecured
- Facility type
- Term loan
- Rate type
- Floating
- Rate reference
- Term SOFR + 0.75-1.75% (rating-based); effective 4.58% as of Mar 31, 2026
- Covenants
- Consolidated Leverage Ratio of no greater than 3.75x (net of 85% of unrestricted cash; step-up to 4.25x for four quarters after a qualifying acquisition of at least $1.0B); restrictions on liens, subsidiary indebtedness, and disposition of Starlink assets
- Prepayment
- Prepayable at any time without premium; net proceeds of a qualified IPO must repay outstanding amounts within six months of receipt; duration fees of 0.125% at 12 months and 0.25% at 15 months
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-02 | Issuance | $20.00B |
- 2026-03-02 — $20,000,000,000Note 9 — Debt (interim)