4 ms·
What is IR here? My understanding is that normally the banks would have sold this debt long before the deal closed. However due to Elon's putting the deal "on
by bogomipz 4y ago
What is IR here?
My understanding is that normally the banks would have sold this debt long before the deal closed. However due to Elon's putting the deal "on hold" and what followed, the bank wasn't able to do the usual road show to sell the debt to investors. The banks are on the hooks for this now. And while they will likely be able to package and sell it still, they will be doing so in a much different environment than back in April when Elon made the offer to buy the company.