A group of Morgan Stanley (MS)-led banks is set to increase a sale of loans tied to Elon Musk’s social media platform X after receiving stronger-than-expected demand from investors, Bloomberg’s Sridhar Natarajan, Jeannine Amodeo, and Gillian Tan report. The banks had initially planned to sell about $3B worth of loans, but they are now aiming to sell as much as $5.5B of the debt sitting on their books, people familiar with the matter say. The final size is still being weighed, though the people say the banks are looking to sell it for at least 95c on the dollar.
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