Reported 26 days ago
Banks, led by Morgan Stanley, have sold a significant portion of the $13 billion debt tied to Elon Musk's 2022 acquisition of Twitter, now X, reducing their remaining holdings to just $1.3 billion. The latest sale involved $4.74 billion in secured loans, which were completed with broad interest from investors, particularly due to improved revenue expectations following political changes. This marks a notable reduction in the banks' debt holdings, which had been on their books for nearly two years.
Source: YAHOO