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> Some of Twitter’s debt carries an annual interest rate of almost 15%. !!! Is there more information on this? How much is the principle, who are the lenders

• kasey_junk 4y ago
  https://www.reuters.com/markets/us/how-will-elon-musk-pay-twitter-2022-10-07/ https://www.reuters.com/markets/us/how-will-elon-musk-pay-tw... 13B from a few big banks including Morgan Stanley. Rumor was that they were trying to sell the debt for 60c on the dollar but I don’t think that’s played out.
• ksherlock 4y ago
  https://www.wsj.com/articles/elon-musk-explores-raising-up-to-3-billion-to-pay-off-twitter-debt-11674669412 https://www.wsj.com/articles/elon-musk-explores-raising-up-t... "Twitter’s unsecured bridge loans, which total $3 billion, are the most expensive portion of the $13 billion debt package Mr. Musk incurred as part of his $44 billion acquisition of the social-media company. They carry an interest rate of 10% plus the secured overnight financing rate, a benchmark interest rate that has shot up in recent months and currently sits at 4.3%." "With every quarter that passes without Twitter refinancing the debt, the interest rate goes up by an additional 0.50 percentage point, according to regulatory filings. Twitter’s first quarterly interest payment is due at the end of the month, the filings show."
  • biorach 4y ago
    15% of 3B! ouch