(Bloomberg) — Wall Street banks, and some international ones too, showed up in force to back Elon Musk’s run to buy Twitter Inc.
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In all, $25.5 billion would come in the form of multiple types of debt from a dozen banks across Wall Street and the rest of the world, according to a regulatory filing Thursday. Morgan Stanley, Musk’s adviser, has pledged to provide the biggest chunk: about $5.5 billion.
The disclosure comes after a week of investment bankers scrambling to get involved in what could end up being the biggest take-private of all-time. While Musk is unpredictable and didn’t get very far with his 2018 plan to take Tesla Inc. private, banks — with the exceptions of Goldman Sachs Group Inc. and JPMorgan Chase & Co., which are advising Twitter — appear ready to bet on Musk and the chance for windfall of fees if a deal materializes.
The only other bulge bracket missing from the lineup is Wells Fargo & Co.
Loans
The package includes a $13 billion debt commitment letter with about 90% of it coming from Morgan Stanley, Bank of America Corp., Barclays Plc. and MUFG Bank.
Three other banks — BNP Paribas SA, Mizuho and Societe Generale — agreed to contribute the rest. That includes a $6.5 billion senior secured term loan facility and a $500 million senior secured revolver.
There’s also a senior secured bridge loan of up to $3 billion and an unsecured bridge loan of up to $3 billion — both of which will likely take the form of bonds.
The banks…
