Wall Street banks successfully sell final portion of Elon Musk's X debt for $1.2 billion

From Yahoo Finance: 2025-04-28 19:45:00

A group of banks, including Morgan Stanley and Bank of America, sold the final $1.2 billion debt linked to Elon Musk’s $44 billion buyout of Twitter, now X. Loans were sold at 98 cents on the dollar with a 9.5% yield. Banks offloaded $13 billion held for two years due to Musk’s ties with Trump and X’s revenue prospects. The acquisition was funded by various loans, with Morgan Stanley lending Musk $13 billion.

Morgan Stanley offered the last piece of its $1.23 billion debt related to X as a fixed-rate loan at 9.5% interest. The loan was discounted to 97.5-98 cents on the dollar. Morgan Stanley, Barclays, Mitsubishi UFJ, and X did not respond to comment requests, while Bank of America declined to comment. The Wall Street Journal initially reported the news, and last month, Musk announced xAI’s acquisition of X for $33 billion.

The banks, including Morgan Stanley and Bank of America, successfully sold the final $1.2 billion debt related to Elon Musk’s $44 billion buyout of Twitter, now X. The loans were sold at 98 cents on the dollar with a 9.5% yield. The acquisition was funded by various loans, with Morgan Stanley lending Musk $13 billion. Musk’s close relationship with Trump and X’s revenue prospects facilitated the banks in offloading $13 billion in debt.



Read more at Yahoo Finance: Wall Street banks sell final portion of Elon Musk’s X debt, source says