Morgan Stanley-led banks have sold $5.5 billion of debt linked to Elon Musk’s social media platform X, exceeding initial plans. The increased demand came after Musk’s White House ties sparked interest in the bonds. The sale fully offloaded the banks’ exposure to senior term loan, marking a significant milestone in their efforts to free up their balance sheet from X-related debt.
Source: https://www.bloomberg.com/news/articles/2025-02-04/morgan-stanley-boosts-x-debt-sale-as-investors-embrace-musk-bet