Banks on Twitter Deal Extend Debt Commitments to One Year
- Commitment period increased from six months originally
- Lenders committed $13 billion of debt through April 2023
Twitter headquarters in San Francisco, California, U.S.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The banks underwriting the jumbo financing funding Twitter’s acquisition by Elon Musk have extended the period they will commit to backing the $44 billion buyout by six months, giving the billionaire more time to complete the transaction.
The commitment to provide a $13 billion debt package -- if the acquisition goes through -- will now last through April 25, 2023, according to a disclosure filed on Tuesday. It was originally scheduled to terminate on October 20.