Twitter makes first interest payment on Musk buyout debt

Twitter Inc. made its first interest payment on the $12.5 billion in debt that Elon Musk used to take the social media giant private last year. The company paid a group of seven banks, led by Morgan Stanley, which became stuck with the debt after they were unable to sell it to outside investors.

Representatives for Morgan Stanley and Musk did not immediately respond to requests for comment.

The first coupon was expected to cost Twitter roughly $300 million, according to Bloomberg calculations and market participants not involved in the Twitter deal. The payment was due around Jan. 27, about three months after the transaction closed.