Reported Rate for SpaceX’s Costliest Financing Slice Reaches 8.75%

A reported rate of up to 8.75% applies to the costliest slice of SpaceX’s $40 billion private-credit financing for GPU purchases, putting borrowing costs in focus as a separate equipment-lease rate remains unset.

The fixed rate for SpaceX’s planned equipment lease will be set before the lease is signed. The reported 8.75% rate applies to one portion of the financing package, not the lease or the full $40 billion.

SpaceX signed a binding commitment Oct. 24 with an entity managed by Apollo Global Management. The entity would buy graphics processing units (GPUs) and related equipment, then lease them to SpaceX. The roughly $40 billion represents expected principal payments over the lease terms.

The highest coupon on SpaceX corporate bonds issued in June was 6.65%. The bonds and planned GPU lease are separate obligations, so their rates are not directly comparable. The new rate puts further detail on SpaceX’s $40 billion financing plan.

The lease remains subject to closing conditions. SpaceX expects to sign it before the end of 2026, while individual leases are expected to begin as equipment is delivered in the first half of 2027.