Elon Musk's bankers are considering providing the billionaire with new margin loans backed by Tesla Inc. stock to replace some of the high-interest debt he layered on Twitter Inc., according to people with knowledge of the matter. Su Keenan reports on Bloomberg Television.
Zhu, who joined Tesla in 2014 and is heading Tesla's Asia Pacific operations, is in Austin this week. Giga Texas, which opened earlier this year, makes the Model Y and will produce Tesla's upcoming Cybertruck.
The margin loans are one of the options that the Morgan Stanley-led bank group and Musk's advisers have discussed to ease the $13 billion debt Twitter took on as part of Musk's $44 billion deal, the report said, citing people with knowledge of the matter. The discussions have so far centered around replacing the $3 billion of unsecured debt on which Twitter pays an interest rate of 11.75%, the maximum banks had agreed to finance the acquisition in April, the report said.