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Banks to hold all $13-billion debt backing Twitter deal, says report

Musk agreed to pay $44 billion for Twitter in April before the Federal Reserve started raising interest rates to fight inflation

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Musk agreed to pay $44 billion for Twitter in April before the Federal Reserve started raising interest rates to fight inflation

Reuters
The banks providing $13 billion in financing for Tesla CEO Elon Musk’s acquisition of Twitter have abandoned plans to sell the debt to investors because of uncertainty around the social media company’s fortunes and losses, people familiar with the matter said.

The banks are not planning to syndicate the debt as is typical with such acquisitions, and are instead planning to keep it on their balance sheets until there is more investor appetite, the sources said. According to the Wall Street Journal, Banks would likely face losses of around $500 million or more if they tried to sell Twitter’s debt at

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First Published: Oct 23 2022 | 11:58 PM IST

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