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Last I knew the debt is now owned by twitter, not Elon/against Tesla stock. THAT is why the debtors are pissed right now, that $13 billion is sinking hard.
by runevault 4y ago
Last I knew the debt is now owned by twitter, not Elon/against Tesla stock. THAT is why the debtors are pissed right now, that $13 billion is sinking hard.
- drexlspivey 4y agoInvestment banks financed a portion of the deal which they could then sell to investors. They are the ones bagholding. Twitter’s debt owned by twitter makes no sense.
- runevault 4y agoIt is a leveraged buyout. Toys'r'us was killed by one because all the debt of buying the company was dumped on the company.
- pgwhalen 4y ago“Twitter’s debt owned by twitter” is indeed the wrong wording, but GP’s point is that twitter is on the hook for paying, and it is unsecured. That being said, because the banks are having extraordinary trouble selling the debt, they may work with Elon to make it his personal liability, and secured by TSLA shares.