Wall Street banks plan sale of X debt at a discount

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The story "Wall Street banks plan sale of X debt at a discount" was covered 2 days ago by TechCrunch, a news publisher based in United States.

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TechCrunch 2d ago

Wall Street banks plan sale of X debt at a discount - TechCrunch

Quick Summary:

Bankers are reportedly gearing up to offload debt used to fund Elon Musk’s social network, for which he paid $44 million in 2022 including $13 billion in financing.

Meanwhile, a gesture made by Musk at President Trump’s inaugural celebration that many construed as a fascist salute could further complicate the equation for big brands.Ditching Meta? Ditching Meta?

Morgan Stanley is leading the charge, hoping to sell senior debt at between 90 and 95 cents on the dollar, reports the WSJ.