Morgan Stanley is finalizing the sale of another $3 billion of X Holdings Corp. debt, making further progress in a years-long effort to offload loans that supported Elon Musk’s tumultuous purchase of the social-media platform.
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The bank plans to sell the senior secured term loan, which carries a fixed rate of 9.5%, at no discount to face value after receiving more than enough demand from investors, according to people with knowledge of the matter, who asked not to be identified discussing private deal terms.
It is the third…