Elon Musk's SpaceX is the latest big tech company to tap the risky leveraged loan market

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• SpaceX, one of Tesla CEO Elon Musk's major business ventures, tapped the risky leveraged loan market.
• The $250 million deal received a mixed reception from investors given SpaceX's cash burning history.
• The company previously relied on private equity funding but now follows Tesla in tapping debt markets.

Elon Musk is loving high yield debt.

SpaceX took a leveraged loan worth $250 million on Monday, having initially sought to borrow as much as $750 million, according to numerous reports. The smaller loan was taken as a result of deteriorating credit conditions during the fundraising period.

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See Also:

• All the TV shows that have been canceled recently
• The IMF just became the latest to warn about the $1.3 trillion 'leveraged loan' market
• An often overlooked Fed report shows that the risky leveraged loan market isn't going away anytime soon

SEE ALSO: Giant tech firms like Uber and Tesla are lapping up junk debt — here's why investors are lining up to lend it

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