The banks, which include Morgan Stanley and Barclays Plc, did not respond to requests for comment. Bank of America declined to comment. Representatives for Musk and Twitter did not immediately respond to requests for comment.
People familiar with the matter said the banks providing $13 billion in financing for Tesla CEO
Inc. have abandoned plans to sell the debt to investors because of uncertainty around the social media company’s fortunes and losses.
The banks are not planning to syndicate the debt, as is typical with such acquisitions, and are instead planning to keep it on their balance sheets until there is more investor appetite, the sources said.
and Barclays Plc, did not respond to requests for comment.
declined to comment. Representatives for Musk and Twitter did not immediately respond to requests for comment.
