Banks on Wall Street that were supposed to sell billions of dollars of loans, WSJ reports of Reuters

(Reuters) – Wall Street banks are preparing for the sale of a large part of the debt on the social media platform, Wall Street Journal reported on Friday, stating people familiar with the issue.

Bankers in Morgan Stanley (Nyse 🙂 contacted investors on the eve of planned sales up to $ 3 billion debt that lenders like Bank of America and Barclays (Lon 🙂 approved Elon Musk to complete his acquisition of business 2022, which was previously known as Twitter, the report added.

Banks want to sell older debt from 90 to 95 cents on the dollar and retain more junior holdings, according to the report.

Morgan Stanley did not immediately respond to Reuters’ comment request.