Morgan Stanley Leads Wall Street Banks in Selling $3 Billion of X Debt at 90-95 Cents on the Dollar

Jan 24, 2025, 08:37 PM

Wall Street banks, led by Morgan Stanley, are preparing to sell up to $3 billion of debt related to Elon Musk's acquisition of X, the social media platform formerly known as Twitter. The debt, part of a $13 billion financing package for Musk's $44 billion purchase, is expected to be sold at a discount of 90 to 95 cents on the dollar. The sale is anticipated to begin as early as next week, as banks look to alleviate the burden of holding this debt since the acquisition.