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Elon Musk plans to buy back R22 billion Twitter debt
Elon Musk’s X plans to buy back the last remaining piece of debt tied to the buyout of the social network that Wall Street banks have been stuck holding for years, according to a person with knowledge of the matter.
The repurchase of the roughly $1.2 billion (R22 billion) of second-lien debt may be financed in part by the company’s recent equity raise, said the person, who asked not to be identified discussing a private transaction.
Elon Musk’s X plans to buy back the last remaining piece of debt tied to the buyout of the social network that Wall Street banks have been stuck holding for years, according to a person with knowledge of the matter.
The repurchase of the roughly $1.2 billion (R22 billion) of second-lien debt may be financed in part by the company’s recent equity raise, said the person, who asked not to be identified discussing a private transaction.