Morgan Stanley Arranges $3 Billion Loan Sale for X Corp.

Morgan Stanley is arranging a loan sale worth approximately $3 billion for X Corp., according to individuals familiar with the transaction.

The loan proceeds will be utilized to refinance an existing secured bridge loan related to Elon Musk's acquisition of the social media platform in 2022. The debt is being marketed at 98 cents or more on the dollar, with pricing anticipated later this week.