Reported about 11 hours ago
Morgan Stanley has begun a significant sale of nearly $3 billion in X Corp. debt, influenced by renewed investor interest in the social media platform owned by Elon Musk, following his close ties with the White House. This comes shortly after the firm noted strong demand for a previous $5.5 billion X debt sale, marking a turnaround from initial skepticism surrounding Musk's acquisition of Twitter. The latest debt offering, expected to price higher than anticipated, will be used to repay an existing bridge loan linked to the buyout, as banks seek to offload the substantial debt incurred during Musk's takeover.
Source: YAHOO