Last-Minute Twist on xAI Deal Adds Banks Beyond Morgan Stanley
(Bloomberg) – A triple bank, according to people with the company’s knowledge, after asking the company’s participation, even the relationship that can help financing, Morgan Stanley’e Xai Corp. He participated in a $ 5 billion debt agreement.
Barclays PLC, Mitsubishi UFJ Financial Group Inc. And UBS Group AG has been added to the last bonds and credit sales for Elon Musk’s artificial intelligence attempt, people who want to be defined because they are not authorized to speak publicly.
Barclays and Mufg have both ties with Musk before, 2022 X Holdings Corp. He helped to finance debt to purchase – then Twitter Inc. Mufg, known as Morgan Stanley, had a partnership for years that enabled the two lenders to participate in the trade and investment banking business.
Representatives of the four banks refused to comment. The Xai representative did not respond to requests looking for comments.
Some people were not mentioned in most of the sales process managed by Morgan Stanley, but some people received loans in the agreement documents after entering. Morgan Stanley still received a large part of the wages as the main regulator.
Some people initially said that there were many other banks who wanted to be part of the XAI debt sales. While Musk was still in the good elegant of US President Donald Trump, the agreement was previously marketed and released, but the fall of the public has become a quick concern among investors. So are the questions about the finance of the initiative, including the statement that Xai was burned for $ 1 billion per month.
Some people, Morgan Stanley, who served as Musk’s primary bank, agreed to allow Morgan Stanley, who served as Musk’s primary bank, once, some people, to allow XAI to join. Their participation and the relevant fees received by these banks can help Xai because they provided additional financing, and added a rotating loan to potentially assist daily expenses.
Bloomberg reported that the company plans to increase a capital of $ 6.4 billion over an existing equity increase and recently finalized $ 5 billion. The last debt agreement determines the ceiling to the amount of funding that the company may increase.
It is not unusual for banks to add to the middle of a debt sales process or to change the structure as the insurers understand how to make the best of the agreement.
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