Reported 5 days ago
Morgan Stanley plans to raise its X Holdings Corp. debt offering to $4.74 billion, driven by strong investor demand. Initially marketing a $3 billion portion, the bank aims to reduce financial exposure to the social media platform, which has seen a resurgence in interest following positive adjustments to its revenue and profit profiles. This offering is part of a series of rapid debt sales occurring in the wake of Elon Musk's acquisition, allowing banks to shed $6 billion in held debt.
Source: YAHOO