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In response to
"The banks that lent him all those billions to buy it are so totally screwed right now -- nm*"
by
decline
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3 of them have an agreement not to sell unless they all get the same terms. That expires in January. Musk could then buy his debt back at pennies -- (edited)
Posted by
TWuG
Oct 30 '23, 12:30
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On the dollar.
So he'd then only be out his personal stake and the cost of the debt, which could be less than Twitter's value. He then sells out and makes money in the deal.
The reason the 3 way agreement matters is it helps prevent a run to the bottom, but a run becomes more likely when they all try to unload the debt after January
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