Musk looks to scrap Tesla margin loan with new Twitter funding – Bloomberg Law

　　div classBodysc17zpet90 cdBBJodivpReuters – Elon Musk is in talks to raise enough equity and preferred financing for his proposed buyout of Twitter Inc to negate the need for a 6.25 billion margin loan linked to his Tesla Inc shares, Bloomberg Law reported on Thursday.p

　　pThe billionaires advisers, led by Morgan Stanley, have begun soliciting interest from potential investors for as much as 6 billion in preferred equity financing, the report https:news.bloomberglaw.commergersandacquisitionsmuskseekstoscrapteslamarginloanwithnewtwitterfunding？contextsearch&index0 said, citing people with knowledge of the matter.pdivdivdiv classBodysc17zpet90 cdBBJodiv

　　pTwitter declined to comment on the report, while Musk could not be reached for comment.p

　　pMusk originally took out a 12.5 billion margin loan secured against his Tesla stock to help fund his purchase of Twitter. But he reduced that loan to 6.25 billion earlier this month after bringing in coinvestors.p

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　　pp Reporting by Tiyashi Datta in Bengaluru Editing by Shailesh Kuber and Aditya Sonip

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