SpaceX borrowed $20 billion in March to pay down existing debt ahead of its planned initial public offering this summer, according to a regulatory filing reviewed by Reuters. The loan, arranged by an unnamed syndicate of lenders, could be repaid using proceeds from the IPO if other funding sources aren't found within six months. SpaceX did not comment on the loan or its IPO plans. The filing, part of the company's S-1 document submitted to the SEC, reveals the loan replaced five existing debt facilities. Two of those loans were tied to Elon Musk's X social media platform, while three were linked to xAI, Musk's artificial intelligence company. As of March 2, SpaceX's total debt dropped to $20.07 billion from $22.05 billion at the end of 2024. The IPO, expected to be the largest in history, could value SpaceX at up to $1.75 trillion, according to previous reports. The filing was submitted confidentially and includes details about the company's financial structure. The bridge loan is a temporary measure, with SpaceX required to repay it using IPO funds or other financing within six months of the offering. The company's S-1 document outlines its business operations, financials, and risks to potential investors. SpaceX's launch facilities at Kennedy Space Center, including Launch Complex 39-A in Cape Canaveral, have been central to its operations. The IPO filing comes as SpaceX continues to expand its rocket and satellite services, as well as its AI and social media ventures. The company's financial strategy includes managing debt from multiple business lines under Musk's ownership. The bridge loan is part of broader efforts to stabilize finances before the IPO, which is expected to attract significant investor interest.