by Arundhati Behera | Mar 21, 2023 | Corporates, High Yield Bonds
WeWork’s dollar bonds jumped following the release of the co-working company’s extensive restructuring plan. After finalizing the terms last week, WeWork said that it will reduce total debt by ~$1.5bn through: Equitization of $1.04bn in its 5% unsecured notes held by...
by Arundhati Behera | Mar 17, 2023 | High Yield Bonds
WeWork’s dollar bonds jumped following news that SoftBank, the largest shareholder of the co-working company, agreed to convert about $1bn of loans into equity after revising terms on the latter’s debts earlier this month. As per sources, WeWork is set to get a...
by Arundhati Behera | Mar 8, 2023 | High Yield Bonds
WeWork’s dollar bonds were down over 1 point. NYT reported that the co-working company is in talks with investors to restructure its $3bn outstanding debt and raise more cash. Yardi Systems, a real estate software maker is weighing an investment, as per...
by Amruth Sundarkumar | Mar 6, 2023 | High Yield Bonds
WeWork’s bonds due 2025 fell by over 10% last week. The company has been facing financial pressures after it recently reported a net loss of $454mn in its 4Q 2022 results. Whilst this was down by around $260mn vs. the same period a year ago, it was still over...
by Amruth Sundarkumar | Jan 25, 2023 | High Yield Bonds
WeWork’s dollar bonds jumped by 6-9 points. The company had recently announced that it planned to cut about 300 roles in order to cut costs in addition to reducing its real estate footprint, amid reducing its cash burn. In November, WeWork announced its exit...
