Morgan Stanley and other lenders to Elon Musk’s Twitter takeover have reportedly sold around $4.7 billion of X debt at face value, exceeding expectations. This means creditors will be left with only around $1.3 billion of their original $12.5 billion outlay.
Originally, plans were to sell $3 billion of debt at a 10%-20% discount. However, Musk’s improved financial standing and his growing influence over the company may have contributed to this unexpected outcome.
Musk has been working to increase X’s equity stake in xAI, which is also benefiting from “hundreds of millions of dollars” transferred into its 2024 revenue. This improvement in X’s finances suggests that Musk’s leadership is having a positive impact on the company.
In contrast, New York City Mayor Eric Adams’ recent case has taken an unexpected turn. The Justice Department announced it will drop bribery and fraud charges against him, following seven prosecutors who resigned rather than withdrawing their indictment due to concerns over departmental politics.
Source: https://www.axios.com/2025/02/14/lenders-elon-musk-twitter-x-takeover