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Speaking at a Morgan Stanley investor conference on Tuesday...Morgan Stanley led the syndicate of banks that loaned Twitter $13bn in November, which partly fund
by BMc2020 4y ago
Speaking at a Morgan Stanley investor conference on Tuesday...Morgan Stanley led the syndicate of banks that loaned Twitter $13bn in November, which partly funded Musk’s takeover. Morgan Stanley provided the biggest chunk, about $3.5bn. The banks, which also include Barclays and Bank of America, face potentially large losses on the loans as they have been unable to sell the debt to investors due to uncertainty around Musk’s strategy to make Twitter profitable and pressure from rising interest rates.
Morgan says, "Thanks for your report. Boys, take Mr. Musk out back and make sure he knows we want our money back, then let him go."