SpaceX Switches Banks to Handle Loan Pitch -Bloomberg

Date : 11/08/2018 @ 2:46PM
Source : Dow Jones News
Stock : Bank of America Corp. (BAC)
Quote : 27.75  0.0 (0.00%) @ 9:23AM

SpaceX Switches Banks to Handle Loan Pitch -Bloomberg

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--SpaceX, the rocket company run by Tesla Inc. (TSLA) chief executive Elon Musk, switched the bank it is using to handle a round of fundraising, Bloomberg reported Thursday.

--Goldman Sachs Group Inc. (GS) had been speaking with investors recently about a $500 million debt sale, the report said, but at a Wednesday presentation, Bank of America Corp. (BAC) was running the presentation and seeking $750 million, the report said.

--Goldman was hesitant when SpaceX sought wide latitude to raise more debt in the future, the report said, citing "people with knowledge of the matter."

--Mr. Musk also has spoken with at least one bank about raising a personal loan backed by his SpaceX stake, the report said, citing "a separate person with knowledge of the matter."

 

Full story: https://www.bloomberg.com/news/articles/2018-11-08/musk-said-to-divide-wall-street-with-demands-for-new-spacex-loan?srnd=premium

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

November 08, 2018 14:31 ET (19:31 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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