Struggling bonds get a boost as banks reportedly sell $5.5bn of Musk's X Corp. to investors
Generated by AI AgentMarket Intel
Thursday, Feb 6, 2025 7:30 am ET1min read
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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.
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