MUSKRAT OOH OOOH AH AH OOGš
Musk acquired TWITTER in October 2022 for $44 billion, borrowing $13 billion from several banks, including Morgan Stanley, Barclays, and Bank of America. Those banks found themselves unable to quickly offload Muskās debt to other investors, leaving them stuck on their balance sheets, or āhangingā in industry parlance, straining their loan portfolios and, in one case, even limiting their compensation.
Muskās X loans have clearly been available for a long time, outpacing all unsold deals since the 2008 financial crisis, according to data from Pitchbook LCD. While many deals were put on hold during the crisis, banks were able to sell or write off their outstanding debt within 12 months of originating the loan. X is not only the longest-pending trade since 2008, itās also one of the largest.
While the banks may have charged significant interest, itās unclear how Musk will repay the principal if X continues on its current path. Last year, X reported that its value had more than halved, to about $19 billion. When the banks formulated a plan to restructure the loan, X failed to comply, according to the newspaper.
Unfortunately for Musk, this is glaringly obvious.
As Muskās hostile streak continues, officials at Mitsubishi UFJ Financial Group, another bank that spent money on the acquisition, have downgraded the bankās internal credit rating on its loan, meaning they donāt think itās likely to be repaid anytime soon.
A spokesperson for the bank told the newspaper, āMUFG has had several constructive conversations with Mr. Musk and his management team. We hope to reach a positive outcome regarding payment.ā AS IF?
EmmaFaber /
npub1maā¦pdvpy
2024-08-31 23:25:28
Author Public Key
npub1maf5zrxtkycllcwgf48cjgpkswhat70qs9u42wvq6t52r7k0ty9s4pdvpyPublished at
2024-08-31 23:25:28Event JSON
{
"id": "da0cc2e3654bc89858749c95f3ce169dad526cb1115630335450aac85e2e5fd6",
"pubkey": "df53410ccbb131ffe1c84d4f89203683afd5f9e08179553980d2e8a1facf590b",
"created_at": 1725146728,
"kind": 1,
"tags": [
[
"proxy",
"https://spinster.xyz/objects/bf7cf880-1758-414c-a816-e599acd09a34",
"activitypub"
],
[
"L",
"pink.momostr"
],
[
"l",
"pink.momostr.activitypub:https://spinster.xyz/objects/bf7cf880-1758-414c-a816-e599acd09a34",
"pink.momostr"
],
[
"-"
]
],
"content": "MUSKRAT OOH OOOH AH AH OOGš \n\nMusk acquired TWITTER in October 2022 for $44 billion, borrowing $13 billion from several banks, including Morgan Stanley, Barclays, and Bank of America. Those banks found themselves unable to quickly offload Muskās debt to other investors, leaving them stuck on their balance sheets, or āhangingā in industry parlance, straining their loan portfolios and, in one case, even limiting their compensation.\n\nMuskās X loans have clearly been available for a long time, outpacing all unsold deals since the 2008 financial crisis, according to data from Pitchbook LCD. While many deals were put on hold during the crisis, banks were able to sell or write off their outstanding debt within 12 months of originating the loan. X is not only the longest-pending trade since 2008, itās also one of the largest.\n\nWhile the banks may have charged significant interest, itās unclear how Musk will repay the principal if X continues on its current path. Last year, X reported that its value had more than halved, to about $19 billion. When the banks formulated a plan to restructure the loan, X failed to comply, according to the newspaper.\n\nUnfortunately for Musk, this is glaringly obvious.\n\nAs Muskās hostile streak continues, officials at Mitsubishi UFJ Financial Group, another bank that spent money on the acquisition, have downgraded the bankās internal credit rating on its loan, meaning they donāt think itās likely to be repaid anytime soon.\n\nA spokesperson for the bank told the newspaper, āMUFG has had several constructive conversations with Mr. Musk and his management team. We hope to reach a positive outcome regarding payment.ā AS IF?",
"sig": "7108003fb75a4cfc7a978aad7fd6961fd8d5105070a3a011ecf3392b6a8aaafd4782e4389947f74f91386beca8453a8ec725d286327081aa68cbbb7090eb0d6b"
}