Elon Musk's SpaceX took out a $20 billion bridge loan last month to refinance much of its existing debt ahead of its planned U.S. initial public offering, according to excerpts from a confidential regulatory filing.

Bridge Loan Reshapes SpaceX Debt Stack

Reuters on Thursday said the borrowing came from an unidentified syndicate of lenders and that SpaceX could be required to use IPO proceeds to repay the loan if it is not otherwise paid off within six months of the offering.

The details appeared in a confidential S-1 filing, the form companies submit to the U.S. Securities and Exchange Commission before going public to outline their finances, operations and risks to prospective investors.

The loan replaced five earlier debt facilities, including two term loans tied to Musk's social media platform X and three borrowings by xAI, his artificial intelligence company.

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