Morgan Stanley Sets $3 Billion X Loan to Tap Into Musk Mania (4)

Morgan Stanley kicked off another large sale of X Corp. debt on Monday, seizing on investors’ sudden embrace of the social-media platform owned by billionaire Elon Musk due to his close ties to the White House.

The Wall Street firm is pitching investors on nearly $3 billion worth of loans that it holds along with other banks. The move comes less than a week after it sold $5.5 billion in X debt amid strong demand from buyers, according to people with knowledge of the matter.

The sales mark a surprising turnaround for what had initially been seen as an ill-fated ...