Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Banks funding Twitter sale to Elon Musk may lose $500M (NYSE:TWTR)

by Euro Times
October 10, 2022
in Business
Reading Time: 2 mins read
A A
0
Home Business
Share on FacebookShare on Twitter


Scott Olson/Getty Images News

Banks led by Morgan Stanley may lose about $500 million in their effort to fund Elon Musk’s $44 billion purchase of Twitter (NYSE:TWTR) as the debt market have seized in recent months.

Lenders including Morgan Stanley (MS) Bank of America Corp. (BAC) Barclays Plc (BCS) and Mitsubishi UFJ originally committed $13 billion of debt financing for the transaction.

Those banks may now lose about $500 million if they had to sell the debt now, according to Bloomberg calculations in a late Friday story. They originally agreed to fund the purchase even if they couldn’t sell the debt and now its unlikely investors would want to buy the debt in the current markets.

The report comes as Twitter’s (TWTR) trial to force Elon Musk to go through with a $44 billion buyout has been paused until Oct. 28 to allow the parties to close on the deal, the Delaware judge presiding over the case ruled on Thursday.

The banks have been bruised in the debt markets in other big transactions in recent weeks. Bloomberg reported Tuesday that banks including BofA (BAC) and Barclays (BCS) are expected to fund the $8.35 billion takeout of Nielsen (NLSN) by Elliott Management and Brookfield Business Partners, which is scheduled to close this week.

There also appears to be a high likelihood that banks, including Citi (C) and BofA (BAC) will need to fund the more than $5 billion in debt for Apollo’s (APO) planned acquisition of Tenneco (TEN), according to the Bloomberg report.

And last month banks were reportedly on the hook for Citrix Systems $16.5 billion sale to Elliott and Vista Equity, where banks that underwrote debt backing the deal are collectively headed for $500M in losses when the debt was auctioned off at a discount.



Source link

Tags: 500mBanksElonFundingLoseMuskNYSETWTRsaleTwitter
Previous Post

Walmart is having a huge sale on 75-inch TVs today

Next Post

Energean begins testing Karish gas pipeline

Related Posts

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

by NDTV Profit Tech
July 11, 2025
0

4. iQOO 13 (Ace Inexperienced): Rs 52,999 (Down From Rs 61,999)Outfitted with a 6,000mAh battery, 6.82-inch FHD display screen, 50MP...

Crude oil futures gain as Trump plans major Russia statement 

Crude oil futures gain as Trump plans major Russia statement 

by Euro Times
July 11, 2025
0

At 9.53 am on Friday, September Brent oil futures have been at $68.79, up by 0.22%, and August crude oil...

US stocks: S&P 500, Nasdaq rise to record highs boosted by Nvidia record valuation, strong Delta forecast

US stocks: S&P 500, Nasdaq rise to record highs boosted by Nvidia record valuation, strong Delta forecast

by Euro Times
July 11, 2025
0

The S&P 500 and the Nasdaq Composite rose modestly to publish file closing highs on Thursday, boosted by an upbeat...

Furniture Insider: Data and Trends for Resellers (2025)

Furniture Insider: Data and Trends for Resellers (2025)

by Andrea Vargas
July 10, 2025
0

The furnishings class is rapidly increasing in each quantity and recognition. Main manufacturers and retailers depend on B-Inventory—the world’s largest...

Saratoga Investment Q1: ROE Beating The BDC Industry Average (NYSE:SAR)

Saratoga Investment Q1: ROE Beating The BDC Industry Average (NYSE:SAR)

by David Johnson
July 10, 2025
0

This text was written byObserveDavid A. Johnson is founder and principal of Endurance Capital Administration, a New Jersey Restricted Legal...

TCS Q1 Results: Profit rises 6%, margins beat estimates; EBIT flat QoQ

TCS Q1 Results: Profit rises 6%, margins beat estimates; EBIT flat QoQ

by zee business
July 10, 2025
0

Tata Consultancy Providers Ltd. (TCS), India’s largest IT companies firm, reported its monetary outcomes for the April–June quarter (Q1FY26) after...

Next Post
Energean begins testing Karish gas pipeline

Energean begins testing Karish gas pipeline

Rep. Elissa Slotkin Says Democratic Party Needs ‘New Blood’

Rep. Elissa Slotkin Says Democratic Party Needs ‘New Blood’

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Corn Sticking Close to Unchanged at Midday

Corn Sticking Close to Unchanged at Midday

July 11, 2025
Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

July 11, 2025
Bangladeshi rap, memes helped oust Hasina — now they’re reshaping politics | Protests

Bangladeshi rap, memes helped oust Hasina — now they’re reshaping politics | Protests

July 11, 2025
Google’s Veo 3 in Gemini Upgraded With Image to Video Generation Capability

Google’s Veo 3 in Gemini Upgraded With Image to Video Generation Capability

July 11, 2025
Remixpoint CEO to Receive Entire Salary in Bitcoin

Remixpoint CEO to Receive Entire Salary in Bitcoin

July 11, 2025
OpenAI Faces IRS Complaint Over Alleged Tax Violations

OpenAI Faces IRS Complaint Over Alleged Tax Violations

July 11, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Corn Sticking Close to Unchanged at Midday

Apple iPhone 16e, Samsung Galaxy S24 Ultra, OnePlus Nord 5

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In