Elon Musk Races to Secure Financing for Twitter Bid – The New York Times

The world’s richest man is trying to shore up debt financing, including potentially taking out a loan against his shares of Tesla, so he can buy Twitter for $43 billion.Elon Musk, Tesla’s chief executive, began accumulating Twitter shares in January and quickly amassed a 9.2 percent stake in the company.Credit…Susan Walsh/Associated PressApril 19, 2022Updated 7:05 p.m. ETElon Musk is racing to secure funding for his $43 billion bid to buy Twitter.Morgan Stanley, the investment bank working with Mr. Musk on the potential deal, has been calling banks and other potential investors to shore up financing for the offer, four people with knowledge of the situation said. Mr. Musk is first focused on raising debt and has not yet begun to seek equity financing for his bid, one of the people said.Mr. Musk is evaluating various packages of debt, including more senior debt known as preferred debt and a loan against his shares of Tesla, the electric carmaker that he runs, two of the people said. Apollo Global Management, the private equity firm, is among the parties considering offering debt financing in a bid for Twitter. The equity he needs is likely to be sizable.Mr. Musk is aiming to pull together…
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