Reported 2 days ago
Wall Street banks are preparing to sell up to $3 billion in loans linked to X, the social-media platform owned by Elon Musk, after facing challenges in offloading the debt due to Musk's drastic changes and declining revenue. Morgan Stanley and other lenders, who financed Musk's $44 billion acquisition of X in 2022, expect to recover 90 to 95 cents on the dollar amid a complex financial landscape.
Source: YAHOO