SpaceX Seeks $750 Million Loan Via New Arranger BofA

(Bloomberg) -- Elon Musk’s rocket company SpaceX is planning to launch a $750 million leveraged loan this week, which will now be led by Bank of America Corp. instead of Goldman Sachs Group Inc., according to people with knowledge of the matter.

Bank of America has scheduled a Nov. 7 presentation for potential investors, said the people, who asked not to be identified because the transaction is private.

Goldman Sachs was previously leading talks between SpaceX and creditors on a smaller $500 million financing in the week of Oct. 22, people familiar with the matter said at the time.

The whisper pricing on the Goldman Sachs-led financing was at a margin of about 400 basis points more than Libor, with a new issue discount in the 99.5 area, said the people.

Representatives for Space Exploration Technologies Corp., Bank of America and Goldman Sachs declined to comment.

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