Elon Musk’s $44 billion Twitter purchase: How banks may see a way out of the deal

Wall Street banks are reportedly preparing to sell up to $3 billion in debt tied to X, the social media platform owned by Elon Musk. Morgan Stanley bankers have reportedly reached out to investors ahead of a planned sale next week.

Citing sources familiar with the matter, The Wall Street Journal reported that the banks expect to recover 90 to 95 cents on the dollar. The publication initially disclosed details of the sale preparations.