Reported 2 days ago
A consortium of banks led by Morgan Stanley is planning to sell up to $3 billion of senior debt linked to Elon Musk's acquisition of X, formerly Twitter. Engaging a limited group of investors, they are evaluating interest in purchasing portions of at least $250 million at discounted rates. This effort is part of a broader strategy to offload approximately $13 billion in debt stemming from Musk's surprise bid to privatize Twitter in 2022. Banks previously sold about $1 billion of this debt, and are now looking for market opportunities as investor sentiment improves.
Source: YAHOO