Wall Street banks plan sale of X debt at a discount

Bankers are reportedly gearing up to offload debt used to fund Elon Musk’s social network, for which he paid $44 million in 2022 including $13 billion in financing. Morgan Stanley is leading the charge, hoping to sell senior debt at between 90 and 95 cents on the dollar, reports the WSJ.  As notes the outlet, […]

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Summary

Wall Street banks are preparing to sell debt used to fund Elon Musk’s social network at a discount. The debt was acquired for $44 million in 2022, with $13 billion in financing. Morgan Stanley is leading the sale of senior debt at a price range of 90 to 95 cents on the dollar.

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