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On Wednesday, the Wall Street banks saddled Elon Musk’s takeover of Elon Musk’s tweeting of USD 44 billion to end one of the strong fields in recent years.
After a sale of around 1 billion USD of the same debts, the banks were able to sell 5.5 billion USD loans last week by helping the people informed in this matter in the investor interest on the assets. The debts sold on Wednesday were unloaded with just a small discount and sold to the dollar at 97 cents.
The transaction was a crucial moment for the Bankswho had to finance themselves for the debt after its ownership of the company, which has now been renamed X and Widerer Markt volatility enthusiasts.
Banks, led by Morgan Stanley, Bank of America and Barclays, now hold another 6 billion USD associated with the acquisition, which is considered a risky than the loans they sold last week. Mufg, BNP Paribas, Mazuho and Société Générale had also participated in the deal.
Bofa, Morgan Stanley, Barclays, BNP Paribas and Socgen rejected a comment, while the other two banks did not answer inquiries about comments.
The turnover with debts in the past two weeks has attracted a wide list of top -class groups, including Citadel, Apollo Global Management, Pimco and diameter. The groups rejected it to comment.
The appetite in the Twitter debt was supported by Musk’s relationship with US President Donald Trump and the return of some advertisers who had previously withdrawn from the website. This has proven to be a saving grace for the banks that financed the transaction, since some hedge funds Morgan Stanley and others had offered only 60 cents on the dollar in 2023 to take the debts off their hands.
A money manager who adopted the deal added that it was a good time for the banks and pointing out “Elons Cache”. He is a fop, a friend of the president. “
The transaction is when Musk fought to restore X into financial health after advertisers had fled the platform for concerns about moderation and brand security.
However, the company has recorded an increase in the new business and partnerships this year after Musk increasingly consolidated the power in Trump’s administration. In January, Amazon increased marketing editions, such as Sensor Tower data after the previous cut expenses when the advertisers are withdrawn.
