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By Reuters Feb 1, 2023 7:49:38 AM IST (Published)
Banks providing $13 billion in financing last year for Tesla CEO Musk's acquisition of Twitter Inc abandoned plans to sell the debt to investors because of uncertainty around the social media company's fortunes and losses, Reuters reported.
Twitter Inc has made its first interest payment on a loan that banks provided to help finance billionaire Elon Musk's purchase of the social media company last year, according to two people familiar with the matter.
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Twitter paid about $300 million to a group of banks last week, one of the sources said, confirming an earlier Bloomberg story.
The financing was led by Morgan Stanley, Bank of America Corp and Barclays PLC .