Wall Street banks offload $5.5bn in debt linked to Elon Musk’s takeover of Twitter

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Wall Street banks saddled with debt from Elon Musk’s $44bn takeover of Twitter sold large chunks of the loan package to investors on Wednesday, allowing a number of lenders to exit one of the toughest acquisition financings in recent years.

The banks were able to sell $5.5bn of term loans, following a sale of roughly $1bn of the same debt last week, helped by booming…