Exclusive: The banks that funded Elon Musk’s $44 billion Twitter …
Oct 6, 2023 · To fortify their position, Morgan Stanley, Barclays, and Bank of America, lenders that combined furnished almost 70% of the financing, have agreed to what's known as a joint "sell-down letter"...
Wall Street banks to sell billions in loans given to Elon Musk
Morgan Stanley, Bank of America, Barclays, X and Elon Musk did not immediately respond to requests for additional comment. Banks typically sell such loans to investors soon after a deal is done ...
Wall Street Banks Plan to Sell $3 Billion of Elon Musk’s X Debt
1 day ago · The debt stems from Musk's $44 billion acquisition of X in 2022, financed by lenders including Bank of America and Barclays. The banks aim to recover 90 to 95 cents on the dollar, according to the ...
Elon Musk’s Twitter deal may be the worst leveraged buyout
Aug 20, 2024 · Elon Musk’s purchase of Twitter could go down as the worst leveraged buyout (LBO) deal for banks since the 2008 global financial crisis in the latest worrying sign the deal is proving costly...
Elon Musk email to X staff: ‘we’re barely breaking even’
2 days ago · Elon Musk told X employees that user growth is stagnant while banks prepare to sell off some of the billions in debt they hold from financing his Twitter purchase. ... Barclays, and Morgan Stanley ...
Elon Musk's Lenders Expect to Lose $2 Billion on Twitter Debt: …
Oct 26, 2023 · Wall Street helped Elon Musk buy Twitter last year by loaning him $13 billion. The banks are now preparing to unload the debt, and expect to take a 15% hit, per the WSJ. The biggest lenders...
Elon Musk’s Twitter deal could tank the leveraged buyout market
Oct 21, 2022 · Elon Musk’s antics have made it hard for his banks — Morgan Stanley, Bank of America, and Barclays — to sell the debt required to do the Twitter deal.
Twitter deal tests banks’ resolve as they brace for big losses
Oct 7, 2022 · The banks, including Bank of America, Barclays, and Japanese bank and Morgan Stanley-investor MUFG, are not expected to attempt to raise $12.5bn of the debt through public or private debt markets...
What Were Elon Musk’s Lenders Thinking? - The Atlantic
Nov 23, 2022 · Morgan Stanley took the lead and organized a syndicate of banks—including Bank of America and Barclays—that committed to lending Musk $13 billion. The whole thing took less than a week.
Elon Musk Tells Employees X Is 'Barely Breaking Even' | PCMag
2 days ago · Bankers from Morgan Stanley, Barclays, and Bank of America are reaching out to investors to try to offload some of the $13 billion in debt they financed for Musk’s $44 billion 2022 takeover of ...