Bond Factsheet
SPCX 6.600% 15Jul2046 Corp (USD)
Space Exploration Technologies Corp.
Indicative
Full Lot
Bid Price 86.996
Change in Bid Price 0.161
Bid Yield (%) 7.910 %
Change in Bid Yield 0.018
Ask Price 87.416
Change in Ask Price
-
Ask Yield (%) 7.863 %
Change in Ask Yield
-
Indicative price as of 05 Oct 2026, 4:00pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Space Exploration Technologies Corp.
Guarantor
-
Announcement Date
23 Jun 2026
Issue Date
26 Jun 2026
Maturity Date
15 Jul 2046
Years to Maturity / Next Call
19.786 / 19.290
Modified Duration
10.142 @ 05 Oct 2026
Issue / Reoffer Price
99.928
Issue / Reoffer Yield
6.606
Coupon Type
Fixed
Annual Coupon Rate
6.600
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
USU8531HAD27
CUSIP
DM2828398
Bond Currency
USD
Total Issue Size
2,500,000,000
Min. Investment Quantity (Nominal)
USD 2,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
Corporate
Bond Sector
Industrials
Bond Sub Sector
Aerospace and Defense
Issuer Credit Rating (S&P/ Fitch)
***/ BBB+
Bond Credit Rating (S&P/ Fitch)
***/ BBB+
Shariah Compliant
No
Exchange Listed
No
Issuer Call
Par Call Date: 15 Jan 2046
Make Whole Call
(1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the applicable Par Call Date) on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus the Applicable Spread for such Notes (as set forth below) less (b) interest accrued and unpaid thereon to the date of redemption, and
(2) 100% of the principal amount of the Notes to be redeemed,
plus, in either case, accrued and unpaid interest, if any, thereon to, but excluding, the redemption date.
| Series | Par Call Date | Applicable Spread |
|---|---|---|
| 2031 Notes: | June 15, 2031 (one month prior to maturity) | +20 basis points |
| 2033 Notes: | May 15, 2033 (two months prior to maturity) | +20 basis points |
| 2036 Notes: | April 15, 2036 (three months prior to maturity) | +25 basis points |
| 2046 Notes: | January 15, 2046 (six months prior to maturity) | +25 basis points |
| 2056 Notes: | January 15, 2056 (six months prior to maturity) | +30 basis points |
Additional Note
If a Tax Credit Event (as defined below) occurs, we may redeem, upon a notice of redemption, any series of the Notes, in whole but not in part at a redemption price equal to 101% of the principal amount of the Notes of such series, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date. A notice of redemption of such Notes upon the occurrence of a Tax Credit Event (i) may be sent only by the later of (a) the end of the calendar year in which the Notes were issued and (b) six months from the date of issuance of the Notes and (ii) shall be accompanied by an officer’s certificate stating that a Tax Credit Event has occurred. The consummation of a redemption upon a Tax Credit Event may be subject to the paying agent’s receipt of the required redemption moneys on or before the redemption date (and in such case no such redemption shall occur unless such moneys have been received by the paying agent on or before such date).
A “Tax Credit Event” occurs with respect to a series of the Notes if, in our reasonable determination, there exists a material risk, due to such series of the Notes (considered together with other debt) having been issued, as part of an original issuance, to one or more “specified foreign entities,” as defined in Section 7701(a)(51)(B) of the Code (as described under “Risk Factors—We may redeem the Notes of any series if a Tax Credit Event occurs”), that we or any of our affiliates would be unable to utilize or otherwise ineligible to claim any tax credits otherwise allowed under Section 38 of the Code.
“Specified foreign entities,” as further defined in Section 7701(a)(51)(B) of the Code, generally include, among other entities: (i) the governments of China, Iran, North Korea or Russia or their agencies or instrumentalities, (ii) certain citizens or nationals of such countries, (iii) entities organized under the laws of, or having their principal place of business in, such countries, (iv) entities controlled by any of the above, including subsidiaries, measured by more than 50% ownership of stock (by vote or value) in a corporation, profits interests or capital interests in a partnership, or beneficial interest in another entity, (v) certain Chinese military companies described under Section 1260H of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, (vi) entities specified under Section 154(b) of the National Defense Authorization Act for Fiscal Year 2024 (which currently includes Contemporary Amperex Technology Company 14 (CATL), BYD Company, Envision Energy, EVE Energy Company, Gotion High-tech Company, Hithium Energy Storage Technology Company, or any successor company to the foregoing), (vii) certain companies that violate the Uyghur Forced Labor Prevention Act of 2021 and (viii) entities that the Office of Foreign Assets Control of the Department of the Treasury (“OFAC”) have included on the list of specially designated nationals and blocked persons maintained by OFAC. A redemption of the Notes for this reason would be at a redemption price equal to 101% of the principal amount of the Notes being redeemed, in each case plus accrued and unpaid interest to, but not including, the redemption date.
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