Elon Musk’s team has explored using a whopping $3 billion in new fundraising to pay back some of the $13 billion in debt tacked on to Twitter Inc for its buyout of the company, the Wall Street Journal reported Wednesday, citing people familiar with the case.
Musk’s representatives discussed selling $3 billion worth of new Twitter stock in December, according to the report.
Twitter did not immediately respond to a request for comment from Reuters. When asked if the WSJ report was accurate, Musk replied “no” in a tweet.
The Tesla boss borrowed $13 billion to complete its acquisition of Twitter in October from a syndicate of banks including Morgan Stanley and Bank of America Corp.
Musk’s team has told people familiar with the company’s finances that a capital raise, if successful, could be used to pay off an unsecured portion of debt with the highest interest rate within Twitter’s $100 loan package. 13 billion, the report said. .
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