\documentclass{article}
\usepackage[adobe-utopia]{mathdesign}
\usepackage[T1]{fontenc}
\usepackage[svgnames]{xcolor}
\begin{document}
\color{black!60}\Huge
\raisebox{1.25ex}{T}\hspace{-0.5em}\begin{tabular}{c}
W\\[-0.9ex]
E\\[-0.9ex]
L\\[-0.9ex]
T
\end{tabular}\hspace{-0.5em}\raisebox{1.25ex}{X}
\end{document}