Reported 1 day ago
Elon Musk's company, X, intends to repurchase the last portion of $1.2 billion in debt related to its buyout of the social network, which has been held by Wall Street banks for several years. This move may partially be funded by a recent equity raise, allowing the banks, led by Morgan Stanley, to unload the riskiest loans from their balance sheets. While no final decision has been made, this debt repurchase follows a series of transactions where the majority of the $13 billion debt from Musk's acquisition was offloaded earlier this year.
Source: YAHOO