The banks involved in the Twitter acquisition have given up on forming a syndicated loan into a syndicated loan for the participating banks in the Twitter acquisition

The bank that provided $13 billion in financing for Tesla CEO Elon Musk’s acquisition of Twitter Inc. has abandoned plans to sell bonds to investors because of uncertainty about the social media company’s fate and losses, Reuters said Oct. 22, citing people familiar with the matter. The debt package for the Twitter deal included junk-rated loans, as well as secured and unsecured bonds. Instead of syndicating the debt, as such acquisitions typically do, the banks plan to keep it on their balance sheets until more investors favor it, sources said. The banks, including Morgan Stanley, Bank of America and Barclays, declined to comment. (Interface News)