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Investing.com -- Morgan Stanley (NYSE:MS) is reportedly planning to increase the size of its latest X Holdings Corp. debt offering, according to Bloomberg News, citing sorces familiar with the matter. The decision comes in response to robust investor demand.
Previously, Bloomberg reported that Morgan Stanley had been marketing a $3 billion portion of the debt that could potentially price without any discount. However, the strong investor interest has prompted the bank to consider a larger offering. These sources, who wished to remain anonymous as they were not authorized to speak publicly, noted that the final size and terms are still under discussion and may change. The debt offering is expected to be priced on Thursday.
This debt is held by seven Wall Street banks, including Morgan Stanley, following their financing of Elon Musk’s acquisition of the platform, then known as Twitter Inc (NYSE:TWTR)., in 2022. Morgan Stanley played a key role in orchestrating the financing package for this acquisition and has been leading the effort to sell the debt since then.
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