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According to WSJ, banks that committed to help finance Elon Musk’s takeover of Twitter Inc. plan to hold all $13 billion of debt backing the deal rather than sell it, according to people familiar with the matter. Twitter’s $44 billion acquisition is backed by banks including Morgan Stanley, Bank of America corp and Barclays PLC, who signed agreements in April to provide Musk with the debt financing he needs to buy the company. The banks decided to park the debt on their balance sheets to avoid selling it at a loss to bond and loan fund managers, the people said.

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【Elon Musk’s Twitter takeover debt to be held by banks amid turbulent markets】According to WSJ, banks that committed to help finance Elon Musk’s takeover of Twitter Inc. plan to hold all $13 billion of debt backing the deal rather than sell it, according to people familiar with the matter. Twitter’s $44 billion acquisition is backed by banks including Morgan Stanley, Bank of America corp and Barclays PLC, who signed agreements in April to provide Musk with the debt financing he needs to buy the company. The banks decided to park the debt on their balance sheets to avoid selling it at a loss to bond and loan fund managers, the people said.

Elon Musk’s Twitter takeover debt to be held by banks amid turbulent markets

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