A group of Morgan Stanley-led banks sold $5.5 billion of debt tied to Elon Musk’s social-media platform X after receiving stronger-than-expected demand from investors, according to people with knowledge of the matter.

Morgan Stanley was stuck with billions of dollars of unloved debt tied to Elon Musk’s controversial 2022 buyout of social-media platform Twitter Inc. It took one election and a billionaire bromance to flip the script.

Wall Street banks, including Morgan Stanley (NYSE:MS), Bank of America, and Barclays (LON:BARC), are gearing up to sell a substantial portion of debt holdings in X, the social-media platform controlled by Elon Musk,

Morgan Stanley ( NYSE: MS) on Friday met with executives from X and around two dozen investment firms as part of its drive to sell $3B of the social-media company’s outstanding debt, Bloomberg reported Saturday, citing people with knowledge of the matter.

A group of Morgan Stanley-led banks is set to increase a sale of loans tied to Musk's X platform after receiving stronger-than-expected demand.

A group of Morgan Stanley-led banks is set to substantially increase a sale of loans tied to Elon Musk’s social-media platform X after receiving stronger-than-expected demand from investors, according to people with knowledge of the matter.