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Elon Musk’s SpaceX looks to a $750-million leveraged loan

Tesla (TSLA) sibling and Elon Musk’s space exploration company, SpaceX, is planning to seek a leveraged loan of $750 million, with Bank of America Merrill Lynch leading the transaction, according to reports that emerged Tuesday.

Both Bank of America Merrill Lynch (BAML) and Space Exploration Technologies Corp (SpaceX) are yet to come out with an official announcement or have confirmed these reports.

It is said that a lenders’ presentation might be held by the SpaceX management as early as Wednesday, Nov 7.

 

SpaceX looks for a $750-million leveraged loan
Falcon 9 Vertical at Vandenberg Air Force Base (SOURCE: SpaceX)

It’s Boeing vs. SpaceX for Mars

A few months ago, the innovative method used by SpaceX to transport astronauts to the International Space Station was widely lauded, when Boeing stepped up its competition with the Musk company in the Mars program. Musk, who believes his company is ready to carry people to space by as early as April 2019, claims it would be a SpaceX vehicle that carries the first human to Mars. But Boeing CEO Dennis Muilenburg was fairly confident when he announced, “the first person to step foot on Mars is going to get there on a Boeing rocket,” in an interview back in August.

To the moon, and around!

In September, Musk announced that SpaceX signed its first private passenger for its round-the-Moon trip. Though the original plan was an end-of-2018 launch, sources suggest that it might get postponed to next year. The last moon landing by humans was in 1972 when Apollo 17 carried astronauts Gene Cernan, Harrison Schmitt and Ron Evans.

Unfazed by SEC action, Elon Musk deletes his titles from Tesla website

 

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