Elon Musk could use Tesla margin loans to cut risky Twitter debt

Inc. stock to replace some of the high-interest debt he layered on Twitter Inc., according to people with knowledge of the matter.Stanley-led bank group and Musk’s advisers have discussed to soften the burden of the $13 billion of debt Twitter took on as part of Musk’s $44 billion acquisition, said the people, who asked not to be identified because the discussions are confidential.

The discussions have so far focused on how to replace $3 billion of unsecured debt on which Twitter pays an interest rate of 11.75%, the maximum banks had guaranteed Musk when they agreed to finance the acquisition in April, the people said.Representatives for Musk didn’t immediately respond to requests seeking comment. Twitter and Tesla, which no longer have communications departments, did not respond to requests for comment.

Source: Loan Digest (loandigest.net)

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