Grade CCC bonds are well above 16% these days, and the amount of debt is $13 Billion. This very well could be $2 Billion/year interest payments.
I remember reading rumors of ~10% since the debt was signed in April 2020 and rumored to be 50% fixed and 50% adjustable. But I never actually found the real information or confirmation.
I think it's safe to say that the interest payment is somewhere between $1 and $2 billion, but there is also principal that needs to be paid back, right?
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That's not counting whatever debt Elon did to get his $33 Billion portion of the bill. I'm just looking at Twitters debt they now owe Morgan Stanley (and a few other banks) as part of the $13 Billion leveraged buyout portion of this company purchase.
> Last year, Twitter’s interest expense was about $50 million. With the new debt taken on in the deal, that will now balloon to about $1 billion a year.
