Elon Musk’s X plans to repurchase the final portion of debt from its acquisition of the social network — a liability that Wall Street banks have held for years, according to a source familiar with the matter.

The planned buyback of approximately $1.2 billion in second-lien debt may be partially funded by the company’s recent equity raise, according to the source, who requested anonymity due to the private nature of the transaction, according to Bloomberg.

The person added that no final decision has been made and the plans remain subject to change.

The debt repurchase would enable the group of seven banks, led by Morgan Stanley, to offload the riskiest portion of loans that have remained on their balance sheets since they financed the $44 billion acquisition of the platform—formerly known as Twitter Inc.—in 2022, a deal that included significant debt.

A representative for X declined to comment, while a spokesperson for Morgan Stanley did not provide an immediate response.

Earlier this year, the banks involved in financing Elon Musk’s acquisition of the social media platform sold off most of the $13 billion in debt they had arranged for the deal through a series of transactions.