Twitter makes first interest payment on Elon Musk buyout debt

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Twitter Inc. made its first interest payment on the $12.5 billion in debt used by Elon Musk to take the social media behemoth private last year.

The company paid a group of seven banks, led by Morgan Stanley, who were unable to sell the debt to outside investors and were stuck with it. Morgan Stanley and Musk representatives did not immediately respond to requests for comment. According to Bloomberg calculations and market participants who were not involved in the Twitter deal, the first coupon was expected to cost Twitter around $300 million. The payment was due on January 27, roughly three months after the transaction closed.

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Twitter makes first interest payment on Elon Musk buyout debt

Twitter Inc. made its first interest payment on the $12.5 billion in debt used by Elon Musk to take the social media behemoth private last year.

The company paid a group of seven banks, led by Morgan Stanley, who were unable to sell the debt to outside investors and were stuck with it. Morgan Stanley and Musk representatives did not immediately respond to requests for comment. According to Bloomberg calculations and market participants who were not involved in the Twitter deal, the first coupon was expected to cost Twitter around $300 million. The payment was due on January 27, roughly three months after the transaction closed.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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