Elon Musk’s team is reportedly investigating raising as much as $3 billion in new funding to help repay part of the $13 billion debt it took to buy Twitter, the Wall Street Journal reported, citing people familiar with the matter.
The report reportedly discussed issuing up to $3 billion in new Twitter shares for sale in December for this.
It was also reported that, if successful, the equity raise could be used to pay off the unsecured portion of the debt bearing the highest interest rate in the $13 billion Twitter loan package.
Elon Musk’s answer is not late
Tesla CEO and Twitter boss Elon Musk said that “there is no such thing” for the news in question.
Tesla’s CEO took out a $13 billion loan from a group of banks, including Morgan Stanley and Bank of America, to complete the Twitter purchase last month.