From Yahoo Finance: 2025-04-24 09:49:00

Morgan Stanley is selling the last $1.23 billion debt tied to Elon Musk’s $44 billion buyout of Twitter, now X. Banks have offloaded most of the $13 billion debt held for nearly two years due to Musk’s relationship with Trump and X’s revenue prospects.

The fixed-rate loan is offered at 9.5% interest and a discounted price of 97.5 to 98 cents on the dollar. Commitments for the deal are due by April 28. Morgan Stanley and X have not commented on the matter.

The X acquisition was funded by a $6.5 billion secured term loan, $500 million revolving credit facility, $3 billion unsecured loan, and $3 billion of secured loans.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Saumyadeb Chakrabarty)



Read more at Yahoo Finance: Morgan Stanley to sell final $1.2 billion of X debt, Bloomberg News reports