Banks that loaned money to Musk for Twitter takeover still holding …

Aug 22, 2024 · According to a Wall Street Journal report, banks like Morgan Stanley and Bank of America that loaned Mr. Musk the money to take Twitter public in October 2022 have been unable to offload the debt ...

$13
OFF

Elon Musk’s Twitter Buy: Add Bankers To The List Of Victims

1 week from now

Aug 20, 2024 · When Elon Musk decided to buy Twitter, he enlisted the help (and financial assistance) of seven major banks to back his offer, ultimately securing loans of $13 billion. It …

fastcompany.com

$44
OFF

Elon Musk’s $44 Billion Twitter Purchase Ranks As Worst Deal For …

1 week from now

Aug 20, 2024 · The 2022 take-private deal for Twitter has left about $13 billion in ‘hung’ debt held by Bank of America, Morgan Stanley and other big lenders Published: Aug. 20, 2024 at 3:52 …

marketwatch.com

$13
OFF

Twitter Takeover 'worst Buyout For Banks Since Financial Crash'

1 week from now

Aug 20, 2024 · Elon Musk's multi-billion dollar takeover of Twitter (now X) has been cited as the worst buyout for banks since the 2008-09 financial crisis. ... lent $13 billion to Musk to take …

thelondoneconomic.com

$12
OFF

Banks Prepare To Hold $12.7bn Twitter Debt On Books Until Early …

1 week from now

Nov 1, 2022 · Banks that lent $12.7bn to Elon Musk for his $44bn Twitter takeover are preparing to hold the debt until early next year as they wait for the billionaire to unveil a clearer business …

ft.com

$13
OFF

Elon Musk Told Bankers They Wouldn’t Lose Any Money On Twitter …

1 week from now

Dec 15, 2023 · Elon Musk privately told some of the bankers who lent him $13 billion to fund his leveraged buyout of Twitter that they would not lose any money on the deal, according to five …

arstechnica.com

$13
OFF

Elon Musk's Twitter Buy The Worst Financing Deal For Banks Since …

1 week from now

Aug 20, 2024 · Elon Musk's Twitter acquisition ended up being the worst financing deal for banks since 2008, the WSJ said. The $13 billion in loans Musk took out have been stuck on banks' …

businessinsider.com

$13
OFF

Bankers Have Lost So Much Money Thanks To Elon's Terrible …

1 week from now

Aug 21, 2024 · Seven banks loaned Elon Musk money totaling $13 billion in 2022 to help him buy Twitter, now known by the obnoxiously generic name X, and every single one has been unable …

gizmodo.com

5%
OFF

SEC Sues Musk For 'Underpaying' For Twitter Stock Amid Takeover

1 week from now

2 days ago · The regulator said that by March 14, 2022, Musk had a greater than 5% in Twitter and didn't disclose it within the 10-day time frame required to put in a 13D filing. Musk only …

investopedia.com

FAQs about Banks that loaned money to Musk for Twitter takeover still holding … Coupon?

Who lent Elon Musk $13 billion to buy Twitter?

Seven banks lent Musk $13 billion to buy Twitter. Now they’re stuck with the debt. When Elon Musk decided to buy Twitter, he enlisted the help (and financial assistance) of seven major banks to back his offer, ultimately securing loans of $13 billion. It seemed a good bet for the financial institutions at the time. ...

Which banks lent money to Elon Musk's holding company?

The seven banks involved in the deal, including Morgan Stanley and Bank of America, lent the money to the billionaire’s holding company to take the social-media platform, now named X, private in October 2022. ...

Is Elon Musk's Twitter buyout a bad deal?

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Elon Musk's Twitter purchase has ended up being the worst buyout financing deal for banks since the 2008 recession, according to The Wall Street Journal. ...

Why did banks move to finance a Twitter deal?

Banks moved to finance the deal partly because Musk and his backers contributed $30 billion for the Twitter acquisition as a cushion for the debt if the deal soured, the report said. The losses on banks' balance sheets from the deal are also biting into potential bonuses for some bankers, the report said. ...

Why did Elon Musk raise $13 billion?

While more than half of the $44 billion price tag came from Elon Musk, some $13 billion had to be raised from a consortium of lenders in order not to overwhelm Tesla shareholders after the entrepreneur liquidated billions of dollars in Tesla stock. ...

Could X recoup the value of musk's loans?

Musk's loans have been bringing in some cash for lenders through large interest payments, the report said. Banks could recoup the total value of the debt if X is able to pay back the principal on the loans when they mature. ...