OPINION: The financing arrangements reached by Elon Musk to acquire Twitter could make him the most indebted CEO in the U.S. and may lead to a loss of vital talent from the San Francisco social media.
and a tweet from Wednesday proposing to buy Coca-Cola, estimated to be worth $265 billion. “Next I’m buying Coke to put the cocaine back in,” Musk wrote on his favored social media platform.
Meanwhile, an examination of SEC filings related to the Twitter deal shows Musk’s purchase enjoys considerable backing from influential financial figures. This may guarantee the availability of credit for making the purchase, but it also means Musk’s debtors have considerable leverage to protect their interests. How this works is shown in the structure of the loans used to purchase Twitter.
Three different forms of financing were used to acquire Twitter. These were a bridge loan, a margin loan and equity financing. Bridge loans are a form of short-term financing used to cover costs until a company or person receives a more permanent source of capital and are based on the perceived creditworthiness of the borrower. Margin loans, by contrast, are borrowed against the value of an existing asset like shares of stock.
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