Sullivan & Cromwell Aided Musk’s X in $4.74 Billion Loan Deal

Sullivan & Cromwell helped Morgan Stanley and six other banks unload $4.74 billion of X Holdings Corp. debt tied to Elon Musk’s 2022 purchase of the social media platform then known as Twitter.

The Wall Street law firm advised X on the first lien term loan transaction earlier this month. Ari Blaut, co-head of the Sullivan & Cromwell’s credit and finance practice and leader of its private capital practice, and M&A partner Mike Ringler led the deal team.

Ringler was a lead lawyer for Musk on his 2022 take private of Twitter. He joined Sullivan & Cromwell last May from ...