The SpaceX bond sale was reported to offer yields ranging from about 5.35% on the 2031 bonds to 6.65% on the 2056 notes, with the 2036 bonds pricing at a spread of about 1.4 percentage points over Treasuries.

What that means

  • The shorter-dated paper pays less because it matures sooner.
  • The longer-dated notes pay more because investors are taking more time and rate risk.
  • In secondary trading, the bonds weakened after issuance, and one report said paper losses had grown to roughly $305 million relative to Treasuries.

Plain-English read

If you mean “what did investors get paid,” the headline range is roughly 5.35% to 6.65%.

If you mean “how has the deal performed,” the bonds have reportedly sold off after pricing, so the return for buyers who entered at issuance has moved lower in the market.

TL;DR: SpaceX’s new bonds were priced to yield about 5.35% to 6.65%, but they weakened after launch, so the mark-to-market return has already fallen.