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Morgan Stanley to Sell Final $1.23 Billion of X Buyout Debt
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Morgan Stanley launched a pivotal sale of the last bit of debt tied to Elon Musk’s buyout of social-media platform X Holdings Corp. on Thursday, according to a person familiar with the matter, taking advantage of a brief reprieve from tariff-related volatility.
The bank is offering $1.23 billion of X debt in the form of a fixed-rate loan that carries an interest rate of 9.5% at a discounted price of 97.5 to 98 cents on the dollar, according to the person, who asked not to be identified discussing a private transaction. Commitments are due April 28.