Twitter makes first interest payment on Musk buyout debt
Technology
Twitter makes first interest payment on Musk buyout debt
(Reuters) - Twitter Inc has made its first interest payment under Elon Musk after the billionaire took the social media company private last year using about $12.5 billion of debt, Bloomberg News reported on Monday, citing people with knowledge of the matter.
The Tesla (TSLA.O) boss borrowed $13 billion to close the Twitter acquisition in October from a syndicate of banks including Morgan Stanley (MS.N) and Bank of America Corp (BAC.N).
Twitter paid a group of seven banks, led by Morgan Stanley, which became stuck with the debt after they were unable to sell it to outside investors, the report added.
Twitter, Musk and Morgan Stanley did not immediately respond to Reuters requests for comment.
