US EditionBanks sell down more X debt; just $1.3 billion now left on their books
- Banks led by Morgan Stanley have sold $4.74 billion of secured loans that supported Elon Musk's acquisition of Twitter, now X, leaving $1.3 billion in unsecured loans on their books.
- The banks have nearly eliminated the $13 billion debt held since Musk's acquisition in 2022, according to a source with knowledge of the deal.
- Investors were attracted by exposure to X's stake in Musk's artificial intelligence startup xAI, as reported by a source.
7 Articles
7 Articles
Banks sell down more X debt; just $1.3 billion now left on their books
Banks led by Morgan Stanley have sold to investors another chunky portion of loans that formed the $13 billion debt supporting Elon Musk's $44 billion acquisition of Twitter, now X, in 2022, a source with knowledge of the deal said.
Banks Sell Down More X Debt; Just $1.3 Billion Now Left on Their Books
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Banks sell down more X debt; just $1.3bln now left on their books
Banks led by Morgan Stanley have sold to investors another chunky portion of loans that formed the $13 billion debt supporting Elon Musk's $44 billion acquisition of Twitter, now X, in 2022, a source with knowledge of the deal said.On Thursday, they completed the secondary sale of $4.74 billion of secure
Sources: Wall Street banks led by Morgan Stanley have offloaded almost all the $12.5B in loans that Elon Musk used to buy Twitter, and now hold $1B+ in X debt
Financial Times: Sources: Wall Street banks led by Morgan Stanley have offloaded almost all the $12.5B in loans that Elon Musk used to buy Twitter, and now hold $1B+ in X debt — Investor perception of debt has changed since Donald Trump's election victory — Wall Street banks have rid themselves of almost …
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