A group of banks led by Morgan Stanley is preparing to sell as much as $3 billion in senior debt tied to Elon Musk’s buyout of X, the social media platform formerly known as Twitter. The debt will be sold at 90-95 cents on the dollar, representing a significant discount from its face value. This marks the largest effort yet to offload debt associated with Twitter’s acquisition by Musk in early 2024. Bankers have already contacted investors interested in purchasing portions of the debt, ranging from $250 million upwards, at heavily discounted prices. A sale could begin as soon as next week.
Source: https://www.bloomberg.com/news/articles/2025-01-24/banks-prepare-to-offload-as-much-as-3-billion-of-x-buyout-debt