RBC and CIBC join banking group helping to finance Elon Musk’s bid for Twitter

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 92%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

The two Canadian banks are putting US$1.15-billion into the lowest-risk loan to the Tesla Inc. chief executive

are lining up behind Elon Musk’s US$43-billion bid for Twitter Inc.

The largest loan in the Twitter financing is a US$12.5-billion facility backed by Mr. Musk’s shares in Telsa. The package also includes an unsecured US$3-billion bridge loan - credit with no collateral - and a US$6.5-billion term loan. The risks that come with each level of debt are reflected in the interest rates the banks are charging Mr. Musk.

This is the lowest-cost debt in the Twitter financing package, and therefore the least risky loan. RBC’s analyst who follows Tesla currently has a US$1,175-per-share target price on auto maker, which is 18 per cent higher than where Tesla shares were trading on Monday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Really?

acoyne Poor choice for the Canadian banking oligopoly

CIBC is based? cibc

WTF!!!

acoyne 'lowest risk loan' for Elon Musk for Twitter?

acoyne Glad I don’t support either of those

Sounds abour the right fit for these two banks, among all the orher Canadian banks.

There’s always a buck to be made for the capitalists

SK8Wireless This has got to be some kind of sick, twisted prank.

Good on em

Glad I don't bank with them! RBC cibc

Too bad....

WTF?!!!? RBC

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in CA

Canada Canada Latest News, Canada Canada Headlines