Congratulations to Morgan Stanley, Bank of America. and Barclays! You are holding the beerElon Musk’s antics have made it hard for his banks — Morgan Stanley, Bank of America, and Barclays — to sell the debt required to do the Twitter deal. So they’re just going to hold it, all $13 billion of it,. Truly a next-level “hold-my-beer” move, because it threatens to bring leveraged buyouts to a halt.
Typically, a bank sells the debt used to create a buyout, and moves on to the next deal. But since they’re holding Musk’s beers, they don’t have a free hand to hold anyone else’s. Or, asputs it, “The Twitter move threatens to bring the faltering leveraged-buyout pipeline to a standstill by tying up capital that Wall Street could otherwise use to back new deals.”financial conditions.
Emphasis mine, obviously. The downside of being unpredictable is that money types really, really do not like surprises!
with his own money
Next level bagholders 😂😂
Bottom line is, MuskIsEvil, right? 😁
Explain to me like I am 5