Banks sell down more X debt; just $1.3bln now left on their books
Banks led by Morgan Stanley have sold to investors another chunky portion of loans that formed the $13 billion debt supporting Elon Musk's $44 billion acquisition of Twitter, now X, in 2022, a source with knowledge of the deal said. On Thursday, they completed the secondary sale of $4.74 billion of secured loans which mature in October 2029. The loans paid a fixed rate yield of 9.5 per cent and priced at par or at 100 cents to the dollar, said the source. The loan sale was upsized from an
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