Posted on 04/21/2022 7:18:14 PM PDT by DoodleBob
...To finance the Proposed Transaction or a Potential Offer, entities related to the Reporting Person have received commitment letters committing to provide an aggregate of approximately $46.5 billion as follows:
(i) A debt commitment letter, dated April 20, 2022 (the “Debt Commitment Letter”), from Morgan Stanley Senior Funding, Inc. and certain other financial institutions party thereto as commitment parties (collectively, the “Commitment Parties”) pursuant to which the Commitment Parties have committed to provide $13 billion in financing to the Reporting Person and related entities as follows: (a) a senior secured term loan facility in an aggregate principal amount of $6.5 billion, (b) a senior secured revolving facility in an aggregate committed amount of $500 million, (c) a senior secured bridge loan facility in an aggregate principal amount of up to $3 billion and (d) a senior unsecured bridge loan facility in an aggregate principal amount of up to $3 billion ((a) – (d) collectively, the “Debt Facilities”);
(ii) A separate debt commitment letter, dated April 20, 2022 (the “Margin Loan Commitment Letter”), from Morgan Stanley Senior Funding, Inc. and certain other financial institutions party thereto as commitment parties (collectively, the “Margin Loan Commitment Parties”) pursuant to which the Margin Loan Commitment Parties have committed to provide $12.5 billion in margin loans (the “Margin Loan Facility”), the proceeds of which will be distributed or otherwise made available to Purchaser; and
(iii) An equity commitment letter, dated April 20, 2022 (the “Equity Commitment Letter”), from the Reporting Person pursuant to which the Reporting Person has committed to provide equity financing for the Proposed Transaction or the Potential Offer sufficient to pay all amounts payable in connection with the Offer and the Merger...expected to be approximately $21 billion...
(Excerpt) Read more at sec.gov ...
-$13bn in borrowings from a syndicate lead by Morgan Stanley (other committing banks are BANK OF AMERICA, N.A., BOFA SECURITIES, INC., BARCLAYS BANK PLC, MUFG BANK, LTD., BNP PARIBAS, BNP PARIBAS SECURITIES CORP., MIZUHO BANK, LTD., and SOCIETE GENERALE),
-$12.5bn in margin loans, i.e., loans against Musk's Tesla stock holdings, as follows:
| Initial Lender | Facility Commitment | Pro Rata Portion | ||||||
| Morgan Stanley Senior Funding, Inc. | $ | 2,000,000,000 | 16.0 | % | ||||
| Bank of America, N.A. | $ | 1,500,000,000 | 12.0 | % | ||||
| Barclays Bank plc | $ | 1,500,000,000 | 12.0 | % | ||||
| MUFG Bank, Ltd. | $ | 1,500,000,000 | 12.0 | % | ||||
| Credit Suisse AG, Cayman Islands Branch | $ | 1,250,000,000 | 10.0 | % | ||||
| BNP Paribas | $ | 750,000,000 | 6.0 | % | ||||
| Citibank, N.A. | $ | 750,000,000 | 6.0 | % | ||||
| Deutsche Bank AG, London Branch | $ | 750,000,000 | 6.0 | % | ||||
| Mizuho Bank, Ltd. | $ | 750,000,000 | 6.0 | % | ||||
| Royal Bank of Canada | $ | 750,000,000 | 6.0 | % | ||||
| Société Générale | $ | 600,000,000 | 4.8 | % | ||||
| Canadian Imperial Bank of Commerce | $ | 400,000,000 | 3.2 | % | ||||
| Total: | 12,500,000,000 | 100 | % | |||||
-$21bn in cash from Musk.
FYI, the names of the signing officers at the financing parties are in these documents. I expect they'll be doxxed by Dark Forces. Pray for them.
>> I expect they’ll be doxxed by Dark Forces. Pray for them.
We are at war.
>>FYI, the names of the signing officers at the financing parties are in these documents. I expect they’ll be doxxed by Dark Forces. Pray for them.
The banks would not take that lightly. Their officers get threatened for this and Twitter will find itself without access to finance.
Huh...
MUFG and Mizuho are both Japanese banks..
Ping
why would I pray for Banks lol
It’s on, make the popcorn!
I wonder how little value the Twitter shares will be valued after Twitter goes private. I imagine many of them have Stock Options as part of their compensation packages; so, if he “pulls the plug” on this deal he’s offered, all common stock valuation could drop to nothing overnight.
Correct me if I’m wrong.
We’re talking of about 38% of the open stock? When the WORLDCOM/Sprint deal fell apart in ‘01 Sprint stock went from almost ~$100/share to < $10/share! all because WORLDCOM was cooking their books.
In this case almost 72% + 9.1% will be yanked out of Twitter’s grasp. What’s ~81% of $21bn leave investors?
This I gotta watch. It is going to be real fun.
Joke post?
Not at all.
No formal tender offer yet though?
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