U.S. media: Musk seeks to raise $3 billion to pay off debt owed on Twitter acquisition


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According to foreign media reports, people familiar with the matter revealed that Musk’s team has been exploring potential new financing of up to $3 billion to help repay some of the $13 billion in debt he has incurred on the company due to his acquisition of Twitter. In December, Musk’s representatives discussed selling up to $3 billion in new Twitter shares. The equity raise, if successful, could be used to pay down the highest-interest unsecured debt portion of Twitter’s $13 billion loan program, Musk’s team told people familiar with the company’s finances. Paying off that portion of the debt would provide Twitter with much-needed financial relief. (interface)
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