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Curious about how well collateralized that debt is. At current rates I’d be surprised banks would want to write 10s of billions for twitter. Particularly when t
by lumost 4y ago
Curious about how well collateralized that debt is. At current rates I’d be surprised banks would want to write 10s of billions for twitter. Particularly when the business plan is “I will lay off 75% of the company and hope things hold together.”
- fbdab103 4y agoI have only been reading the details through Money Stuff, but according to Levine, the banks are taking a bath on the deal. Currently trying to underwrite the debt for 60-70 cents on the dollar.
- gcapell 4y agoA few _days_ ago they were looking at 60-70 cents. I suspect those were (relatively speaking) the good old days.
- hef19898 4y agoAnd they were offered like 50 cents, if memory serves well. Brings some serious Margin Call vibes, doesn't it? "Sell everything, today", getting 50 cents is better the 30 or, worst case, nothing. Looking forward for the banks to find loopholes in the agreements with Musk and sue him for negligence or something.
- bandrami 4y ago"65? Jesus. Let me call you back in 5 minutes." "In 5 minutes it will be 55"
- hef19898 4y agoThis movie slowly turns into my most rewatched one!
- ChoGGi 4y agoWhich movie?
- bandrami 4y agoMargin Call. I have no idea why it wasn't more well-known. Kevin Spacey, Jeremy Irons, Zachary Quinto, Paul Bettany, Demi Moore, Aasif Mandvi, Stanley Tucci. It's about a thinly-disguised Goldman Sachs realizing the housing market was about to collapse in 2008 and unloading all their toxic assets in a single day.