Twitter takeover lenders plan to hold $12.7bn debt until early 2023 - reports

As investors await clearer business plan

Valeria Martinez
clock • 1 min read

The banks that lent $12.7bn for Elon Musk’s $44bn takeover deal of Twitter are planning to hold the debt in their books until early 2023 as they wait for him to reveal a clearer business plan they can market to investors.

Sources with knowledge of the matter told the Financial Times that the group of lenders, including Morgan Stanley, Bank of America and Barclays, have said that they may be forced to keep the debt on their books for months or perhaps longer, likely ending up suffering significant losses on the financing package. In recent weeks, the banks have had brief meetings with a number of major credit investors in an effort to determine the level of demand for the debt and the discounts they will ultimately need to offer in order to offload it, the report said.  Elon Musk completes $44bn Twitter...

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