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There's an endearing belief among those who don't understand finance that this is somehow all going according to plan for Musk, who will swoop in and buy up the debt for pennies on the dollar.
What they're ignoring is that Musk doesn't have the readies to do that even if he wanted to (which I've never believed he does).
Look at how his fortune has fared recently. Tesla results and price tumult are killing the gains from Starlink and others.
He's not spending another cent on Twitter.

@OutOnTheMoors
I realize the debt isn't his personal debt, so forgive the wording, but I've never heard of someone buying their own debt. Negotiating forgiven principal is usually a part of a bankruptcy proceeding, no?

@the_etrain It's hella confusing, but this $13BN or so is not Musk's debt. It's TWITTER'S debt.
(The money went to pay former shareholders, it wasn't an investment in the company. It's a common feature of leveraged buyouts.)
Musk owns enough shares to own Twitter. So he owns the shares (in itself) that Twitter owns too.
He could buy up the debt cheaply to reduce the financial pressures on Twitter and clear the claims on the company.
But unless he's seriously trying to turn it around, there's zero incentive for him to do that.

@the_etrain It's very rare. Why on Earth would they? They already own the company. Usually only done to prevent others buying the debt and foreclosing.
The suggestion seems to be wishcasting by people who still believe Musk's bullshit.

@the_etrain It reminds me of the cartoon meme of the person prodding something dead with a stick and encouraging it to act. There's a lot of people who subconsciously won't accept how awful Musk is.
Financial types (and the business media) are also horribly concerned because the banks hold a LOT of Musk's personal debt - which involves a lot of Tesla stock as collateral for loans.

@OutOnTheMoors
Yah, the whole borrowing using stock as collateral is insane to begin with. One of the biggest tax dodges there is.

@the_etrain It's all a house of cards