A consortium of Wall Street banks, including Morgan Stanley, Bank of America, Barclays, and Mitsubishi UFJ, has successfully sold the final portion of debt linked to Elon Musk’s $44 billion acquisition of social media platform Twitter, now known as X, a source familiar with the matter told Reuters on Monday.
The final loan tranche — worth $1.2 billion — was sold at 98 cents on the dollar, offering buyers a 9.5% yield, the source added.
This marks the end of a two-year debt overhang, as banks have now offloaded nearly all of the $13 billion in financing that had remained on their balance sheets since the controversial deal closed in 2022.
Musk’s strong relationship with President Donald Trump, along with renewed investor optimism around the platform’s improving revenue prospects, reportedly helped banks clear the remainder of the debt.
Breakdown of Musk’s Twitter buyout financing:
- $6.5 billion secured term loan
- $500 million revolving credit facility
- $3 billion unsecured loan
- $3 billion in additional secured loans
Seven major banks participated in the initial financing round, with Morgan Stanley acting as the lead arranger. According to previous Reuters reports, the firm had recently been offering the final $1.23 billion in X-related debt at similar terms — a fixed-rate interest of 9.5% and a discounted price between 97.5 and 98 cents on the dollar.
Neither Morgan Stanley, Barclays, Mitsubishi UFJ, nor X responded to requests for comment. Bank of Americadeclined to comment.
The Wall Street Journal first broke the news of the final debt sale earlier Monday.
Notably, in March 2025, Musk revealed that his AI firm, xAI, had acquired X, valuing the social media company at $33 billion, substantially below the original $44 billion buyout but still representing a significant valuation rebound in the eyes of investors.
