Morgan Stanley looking to sell remaining $1.23 billion of X debt: Report

Morgan Stanley is selling the last $1.23 billion of debt related to Elon Musk’s $44 billion buyout of social media platform Twitter, now called X, a person familiar with the matter said on Thursday.

The bank is offering the debt in the form of a fixed-rate loan at an interest rate of 9.5% and a discounted price of 97.5 to 98 cents on the dollar, the person added.

The move would allow the investment bank to shed the debt tied to a deal that drew significant attention. Musk has dramatically reshaped the social media platform since taking control.