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Thanks for that, Pasta Boss.Al_Dente wrote:10/7 BANKS FUNDING THE ELON MUSK TWTR DEAL:
Lenders including Morgan Stanley (MS), Bank of America (BAC), Barclays (BCS) and Mitsubishi UFJ originally committed $13B of debt financing for the transaction.
Those banks may now lose about $500M if they had to sell the debt now, according to Bloomberg calculations. They originally agreed to fund the purchase even if they couldn't sell the debt and now it's unlikely investors would want to buy the debt in the current markets.
10/11 report that two big equity investors are sticking with their commitment to Musk to help fund the $33B portion of the $44B purchase price. The Information says Sequoia Capital plans to keep its funding in place - it's committed $800M - and crypto exchange Binance is set to stand behind its commitment of $500M.
Twitter, Inc. operates as a platform for public self-expression and conversation in real-time. The company's primary product is Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products that enable advertisers to promote brands, products, and services, as well as enable advertisers to target an audience based on various factors, including who an account follows and actions taken on its platform, such as Tweets created and engagement with Tweets. Its promoted products consist of promoted ads and Twitter Amplify, Follower Ads, and Twitter takeover. In addition, the company offers monetization products for creators, including Tips to directly send small one-time payments on Twitter using various payment methods, including bitcoin; Super Follows, a paid monthly subscription, which includes bonus content, exclusive previews, and perks as a way to support and connect with creators on Twitter; and Ticketed Spaces to support creators on Twitter for their time and effort in hosting, speaking, and moderating the public conversation on Twitter Spaces. Further, it offers products for developers and data partners comprising Twitter Developer Platform, a platform that enables developers to build tools for people and businesses using its public application programming interface; and paid access to Twitter data for partners with commercial use cases. Twitter, Inc. was founded in 2006 and is based in San Francisco, California. -- Yahoo Finance