Struggling bonds get a boost as banks reportedly sell $5.5bn of Musk's X Corp. to investors

Banks led by Morgan Stanley have sold about $5.5bn of the $13bn in bonds issued to support Elon Musk's $44bn acquisition of X in 2022, according to people familiar with the matter. The deal was funded by a $6.5bn secured term loan, a $500m revolving credit facility, a $3bn unsecured loan and a $3bn secured loan.