With the first interest paymentsfast approaching, there’s some anxiety over what the impulsive billionaire might do to ease the social-media company’s $12.5 billion debt burden.
in revenue as some advertisers fled from the platform and slashed staff since closing his $44 billion leveraged buyout at the end of October.The drama around Musk’s acquisition and volatile markets left them saddled with the loans, which they normally would have offloaded to investors.on paper for backing Musk’s Twitter bid, market onlookers see little reason for the banks to go along with any unexpected manoeuvres near the interest-payment deadline, roughly around Jan. 27.
While Twitter is on the hook for the debt, and not Musk personally, he put up more than $20 billion for his stake in the company. He and the banks have been trying to find solutions for the interest burden, which has grown more punitive than when he made his offer in April as interest rates soared.replacing some of the high-interest debt with new margin loans backed by Tesla Inc. stock that he’d be personally responsible for repaying, one of several options considered at the time.
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