Wall Street Bank is expected to sell $5.5 billion X Company's debt at a price of $0.97.

BlockBeats News, February 6th, according to WSJ, multiple banks reportedly completed a $5.5 billion bond sale on Wednesday backed by Elon Musk's social media company X. These banks initially planned to sell around $3 billion in bonds at a price of approximately 95 cents on the dollar.

Sources familiar with the matter said that after seeing investor demand, they expanded the size of the deal. Ultimately, investors agreed to purchase the bonds at a price of 97 cents on the dollar. The interest rate on these floating-rate bonds is around 11%, with the cost of borrowing even higher than Wall Street's riskiest loans by several percentage points.

The sale of X company bonds demonstrates the strong investment enthusiasm that has swept Wall Street since Trump's election in November. Given Musk's close relationship with President Trump and his increasing influence since the election, investors are also eager to bet on Musk. (Jinse)