Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two sources with knowledge of the matter said on Friday. Morgan Stanley (MS.N), opens new tab bankers have reached out to investors ahead of a planned sale next week, the people added.

The bank and others, such as Bank of America (BAC.N), opens new tab and Barclays (BARC.L), opens new tab, had lent to Musk to complete his $44 billion buyout of X, formerly known as Twitter, in 2022.