Since Elon Musk closed his agreement to buy twitter, he said that the company, now called x, is in “a very serious situation from the point of view of income.”
Now, the <a target="_blank" href="https://www.wsj.com/finance/banking/wall-street-banks-prepare-to-sell-billions-of-dollars-of-x-loans-c609beb1″>Wall Street Journal Reports that banks are preparing a coordinated movement to sell some of the $ 13 billion in debt they provided to Musk to finance the agreement. Mentions an email sent to employees this month, also confirmed by The edgeWhere the boss Twit said: “… We have witnessed the power of x in the configuration of national conversations and results,” but also said: “The growth of our users is stagnant, income is not impressive and we are barely reaching a balance point.
Part of the reason why Bank of America, Barclays and Morgan Stanley are having much of the debt is to try to <a target="_blank" href="https://www.wsj.com/articles/elon-musks-twitter-takeover-debt-to-be-held-by-banks-amid-turbulent-markets-11666377716″>Avoid selling with loss After the economic conditions changed, and Musk had an extensive judicial battle trying to get out of the agreement. While capital investors have reduced the value of their bets by up to 78 percent, the Diary Informs: “Banks expect to sell senior debt at 90-95 cents per dollar, while retaining more junior holdings.”
As Musk made reference in his email, the report says that banks hope to use Musk's link with Donald Trump, since some unidentified investors may be interested in buying based on the belief that their finances are on the way.
However, Musk also said that the company could become positive in cash “in a few months” almost two years ago, and that it still faces more than $ 1 billion in annual interest payments in loans. The platform is increasingly becoming a test field for its ai ambition Service that said he would be able to “all someone's financial life” at the end of 2024.
