Business Insider reported that Elon Musk’s rocket and spacecraft company SpaceX circulated pricing on a proposed $750 million term loan, according to two sources familiar with the matter.

According to Business Insider, Bank of America Merrill Lynch is leading the transaction.

The company floated pricing in the 400bp-425bp over LIBOR range with a 0% floor and a discount of 99. The loan will have six months of soft call protection at 101.