Banks led by Morgan Stanley prepare to sell around $3 bn of X buyout debt

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Banks led by Morgan Stanley prepare to sell around $3 bn of X buyout debt - Business Standard

Quick Summary:

More recently, Musk’s prominent role in President Donald Trump’s inner circle — including his spot at the top of the newly minted Department of Government Efficiency — has ignited a new wave of optimism around his businesses.

Seven banks including Bank of America Corp., Barclays Plc, and Mitsubishi UFJ Financial Group Inc.agreed to finance that deal.

Since then, the banks have been waiting for an opportune moment to show investors that Musk’s ambitions for the company can justify that cost.