Loans secured by Tesla shares, are Musk needed
2022.12.08 08:45
Loans secured by Tesla shares, are Musk needed
Budrigannews.com – Banks on Wall Street are thinking about giving Tesla CEO Elon Musk (NASDAQ:) and Twitter, utilizing brand-new margin loans to supplement the loans he secured to acquire the social media company.
Banks and Musk’s advisers, such as Morgan Stanley (NYSE:), are discussing a number of options to lessen the burden of Twitter’s $13 billion debt. Twitter faces annual interest costs of approximately $1.2 billion, according to the report, if the existing debt structure is maintained.
The social media company’s unsecured debt of $3 billion, on which it pays 11.75 percent interest, is the topic of discussion. Any new margin loans will likely be used against Musk’s Tesla holdings if the deal is restructured.
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As of now, banks that gave Musk supporting aren’t thinking about offloading any of the obligation to institutional financial backers until the new year, the earliest, as they like to perceive what Musk’s progressions are meaning for the business essentials.
It was reported earlier today that Musk’s Twitter might consider raising the price of its Blue product subscription for customers who pay through Apple’s (NASDAQ:) App for iPhone
