Banks Behind Musk's Twitter Deal Sitting On $13 Billion In Debt
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Elon Musk's first week as the owner of Twitter was what you'd expect from a billionaire not known for his impulse control: borderline pandemonium. But while Musk's loudmouth antics gobble up the headlines, the banks who financed the deal are suffering quietly, for now.
The Financial Times reported Tuesday that the banks who agreed to back Musk's acquisition are planning to hold the $12.7 billion in debt that they lent to the Tesla founder until next year. The banks are reportedly waiting on one of two things: the markets to stabilize or Musk to come up with a clear business plan. Seems like they might want to hold out for option three...
Source Fool.com
