A group of banks has sold the final batch of debt they lent for Tesla (TSLA) CEO Elon Musk’s takeover of Twitter (TWTR) in 2022, people familiar tell The Wall Street Journal, Alexander Saeedy reports. The $1.2B of loans sold at 98c on the dollar, according to the report. Morgan Stanley (MS), Bank of America (BAC), and five other banks agreed to lend the money to help Musk buy Twitter in April 2022. Publicly traded companies in the social media space that compete with X, the platform formerly known as Twitter, include Meta Platforms (META), Alphabet (GOOG) (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
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