'I don't lose sleep': Bank of America CEO isn't worried about financing the Twitter deal

The CEO of Bank of America, 1 of the financiers of Elon Musk's Twitter takeover, doesn't look disquieted astir the deal.

CNBC reported connected Thursday that Musk is present successful complaint of Twitter. Binance, 1 of the investors successful the deal, told CNBC the acquisition has closed.

After Musk archetypal announced plans to bargain Twitter successful April, helium secured equity financing from an array of investors, including exertion firms, arsenic good arsenic indebtedness financing from a fig of concern banks. One of those was Bank of America.

But with the rout successful exertion stocks this twelvemonth and investors cautious connected risky assets, that indebtedness could beryllium hard to merchantability connected to investors, meaning the banks whitethorn person to clasp onto the debt.

The Wall Street Journal reported Wednesday that the concern banks whitethorn clasp onto the indebtedness until adjacent twelvemonth earlier selling it. Credit analytics steadfast 9fin estimates the banks could look losses of $500 cardinal if they sold the indebtedness successful the existent environment.

In an interrogation with CNBC connected Friday, Bank of America CEO Brian Moynihan, seemed unfazed however.

When asked if helium would suffer slumber implicit the deal, helium said: "I've got experts that grip the clients and I don't suffer slumber connected them. I suffer slumber for a batch of different things, but not for that."

The banks that pledged to concern the woody person started releasing the funds into an escrow account, according to the Wall Street Journal. When the acquisition closes, the funds volition beryllium handed to Musk to concern the deal.

There has been nary authoritative confirmation that the woody has been completed yet, but Musk alluded to it being closed successful tweet which said: "the vertebrate is freed," referring to Twitter bluish vertebrate logo.