New York | London | Wall Street banks saddled with debt from Elon Musk’s $US44 billion takeover of Twitter sold large chunks of the loan package to investors on Wednesday (Thursday AEDT), allowing a number of lenders to exit one of the toughest acquisition financings in recent years.

The banks were able to sell $US5.5 billion ($8.8 billion) of term loans, following a sale of roughly $US1 billion of the same debt last month, helped by booming investor interest in the assets, according to people briefed on the matter. The debt sold on Wednesday was offloaded with just a small discount, selling at US97¢ on the dollar.

Financial Times