(Reuters) -Morgan Stanley has launched a sale of the final $1.23 billion price of debt tied to Elon Musk’s $44 billion buyout of social media platform Twitter, now referred to as X, Bloomberg Information reported on Thursday, citing an individual acquainted with the matter.
Musk’s shut relationship to President Donald Trump and prospects of enhancing income of X have allowed banks to dump virtually the entire $13 billion that they had been holding on their books for practically two years.
The fixed-rate mortgage is being supplied at an rate of interest of 9.5% and a reduced value of 97.5 to 98 cents on the greenback, Bloomberg Information reported. Commitments on the deal are slated for April 28, the report mentioned.
Morgan Stanley and X didn’t instantly reply to Reuters requests for remark.
The X acquisition was funded by a $6.5 billion secured time period mortgage, a $500 million revolving credit score facility, $3 billion unsecured mortgage and $3 billion of secured loans.
(Reporting by Arasu Kannagi Basil in Bengaluru; Modifying by Saumyadeb Chakrabarty)
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