Banks have reduced the amount of debt offered by SpaceX CEO Elon Musk’s venture, X, sold to investors. According to a source, $5.5 billion worth of debt was sold down. This marks a significant decrease in the initial offer.
The development comes as part of the ongoing efforts to raise capital for Musk’s ambitious space exploration project. With the reduced amount of debt, investors are now being offered less risk compared to the initial proposal.
Details of the transaction remain scarce, but it is clear that banks have sought to reduce their exposure to the venture. This move may impact Musk’s ability to secure funding for his projects in the future.
As a major player in the global financial market, Thomson Reuters will continue to provide updates on this developing story and other significant investment news.
Source: https://www.reuters.com/business/finance/banks-sell-down-55-bln-musks-x-debt-investors-source-2025-02-05