(Bloomberg)-Morgan Stanley strengthens her latest offers for X Holdings Corp to $ 4.74 billion with no discount, which reduces exposure to the social media platform that banks kept on their books, according to the knowledgeable people from the issue.
Most of them read from Bloomberg
People who were not allowed to speak publicly said that Morgan Stanley was marketing a $ 3 billion part, but he decided to add more to the offer after receiving a strong request from investors. The deal is expected to make the deal on Thursday.
Morgan Stanley actor did not immediately comment.
Seven Wall Street Banks stumbled with debt after the ELON Musk purchase of the platform, which was called Twitter Inc. , In 2022.
The deal that is marketed now is the third in a fever less than a month.
The first was the sale of a $ 1 billion loan to test the market, which is 90 to 95 cents on the dollar. Soon, he continued by selling $ 5.5 billion of debt for 97 cents on the dollar. Banks still have a total of $ 6 billion of debt X.
Sales are suddenly determined by what has been seen long ago as a fateful financing to buy Musk. Banks usually sell debts on the market immediately after this acquisition, but investors have passed on the idea, anxiety from the price that Musk paid and that its changes to the content modification policies will lead to the removal of advertisers. Leave that debt hanging on bank books for more than two years.
But the billionaire billionaire relations with President Donald Trump, including the consultative role, quickly changed the X. Investors expected to help the Musk site in management in its commercial interests, even as his aggressive government efforts are formed to reduce costs in Washington.
In her marketing efforts, Morgan Stanley also shared new details about X’s revenues and modified profits, indicating that his money has settled after the long recession.
-With the help of Aaron Winmann and Sreidhar Natarajan.
(Added details about the planned size and pricing, materials on the history of banks that carry X.)
Most of them read from Bloomberg Business Week
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