Morgan Stanley to sell final $1.2 billion of X debt, Bloomberg News reports

Musk's close relationship to President Donald Trump and prospects of improving revenue of X have allowed banks to offload almost all of the $13 billion they had been holding on their books for nearly two years. The fixed-rate loan is being offered at an interest rate of 9.5% and a discounted price of 97.5 to 98 cents on the dollar, Bloomberg News reported. Morgan Stanley and X did not immediately respond to Reuters requests for comment.