Morgan Stanley puts US$3bil aside for X loan to tap Musk mania


Musk's close ties to President Donald Trump have swiftly changed the market’s view of X’s prospects. — Bloomberg

NEW YORK: Morgan Stanley kicked off another large sale of X Corp debt, seizing on investors’ sudden embrace of the social media platform owned by billionaire Elon Musk due to his close ties to the White House.

The Wall Street firm is pitching investors on nearly US$3bil worth of loans that it holds along with other banks.

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