This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
WeWork has completed restructuring 90% of its real estate portfolio, as per its press release. The company will be exiting 150 locations and has an agreement with landlords to rewrite leases on another 150 locations, through which it will save $8bn in future rent. The company added that it also has agreement with 92% of holders to eliminate $3bn of its secured debt obligations. The company expects to exit from bankruptcy proceedings by May 31.
WeWork’s dollar bonds continue to trade at deeply distressed levels of 2-3 cents on the dollar.
For more details, click here