Twitter Makes Second Interest Payment on Elon Musk’s Buyout Debt

Twitter Inc. made its second interest payment on the $12.5 billion in debt that Elon Musk used to take the social media giant private last year.

(Bloomberg) — Twitter Inc. made its second interest payment on the $12.5 billion in debt that Elon Musk used to take the social media giant private last year.

The company, which is now part of Musk’s newly formed shell firm X Corp., paid a group of seven banks, led by Morgan Stanley, which became stuck with the debt after they were unable to sell it to outside investors, according to people familiar with the matter who asked not to be named discussing a private transaction. 

A representative for Morgan Stanley declined to comment. Twitter, which no longer has a team handling media queries, didn’t specifically respond to an emailed request for comment.

The coupon was expected to cost Twitter roughly $300 million, according to Bloomberg calculations and market participants not involved in the Twitter deal. The interest payment, similar to the first one paid in late January, was due around the end of April, about six months after the transaction closed. 

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