(CNBC) Elon Musk’s U-turn on buying Twitter could not have come at a worse time for the banks funding a large portion of the$44 billion deal and they could be facing significant losses. As in any large acquisition, banks would look to sell the debt to get it off their books. But investors have lost their appetite for riskier debt such as leveraged loans, spooked by rapid interest rate hikes around the world, fears of recession and market volatility driven by Russia’s invasion of Ukraine.
Banks financing Musk’s Twitter deal face hefty losses
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