SpaceX’s Shortest-Dated Debt Is Biggest Lure in $25 Billion Sale

SpaceX met with plenty of fanfare when it first sold shares this month, making history with the biggest- ever initial public offering. In the debt markets, it’s encountering more questions.

Elon Musk’s rocket, satellite and AI conglomerate is set to raise $25 billion of bonds in five parts on Tuesday, in its debut bond offer, and is paying a relatively wide premium over Treasuries to get the deal done, people familiar with the matter said.

Price talk on its 10-year notes tightened about 0.25 percentage point, to 1.4 percentage points more than Treasuries, the people said. Even after the ...