Elon Musk is exploring raising US billion to pay off Twitter’s debt, says the newspaper – 01/25/2023 – Mercado

Elon Musk is exploring raising US$3 billion to pay off Twitter’s debt, says the newspaper – 01/25/2023 – Mercado

The team of elon Musk is considering raising up to US$3 billion ($15.3 billion) in new financing to help pay off part of the US$13 billion ($66.4 billion) debt related to the purchase of twitterreported the Wall Street Journal on Wednesday (25), citing people familiar with the matter.

According to the report, representatives of Musk discussed selling up to $3 billion of new Twitter stock in December.

Twitter did not immediately respond to a Reuters request for comment. Asked if the WSJ report was credible, Musk said “no” in a tweet.

Musk, who is also the chief executive of electric car maker Tesla, took out a $13 billion loan to close the company. access to twitter in October from a group of banks including Morgan Stanley and Bank of America.

Musk’s team told people familiar with the company’s finances that the capital increase, if successful, could be used to pay off the unsecured portion of the debt that has the highest interest rate within the $100.13 billion loan package from Twitter, the report added.

The partnership will provide tweet analytics to advertisers

Twitter and Integral Ad Science, a verification company digital advertisingwill work together to provide advertisers with statistics about the content of tweets displayed alongside their ads.

“Marketers are looking for the confidence to continue investing in Twitter and ultimately grow their investment in Twitter,” said Craig Ziegler, Senior Vice President of Product Management at Integral Ad Science.

The IAS will also provide advertisers with “brand safety” measures, an industry term for protecting them praise online and rate the content around the ad.

Musk has struggled to retain many companies as customers, including General Motors and United Airlines, which had suspended or stopped advertising on the platform.

Many advertisers, including Dyson, Mazda, Forbes and PBS Kids, have suspended their marketing campaigns or removed their ads from Twitter sections because their ads appeared alongside tweets soliciting child pornography.