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 Bloomberg sources. The source also mentioned that SoftBank, the largest shareholder, does not plan to infuse any capital but is open to revising terms on WeWork’s loans. The company has been facing financial pressures after it recently reported a net loss of $454mn in its 4Q 2022 results. Its dollar bonds were down over 10% last week on the back of its soft results and concerns over restructuring.
WeWork’s 7.875% 2025s were down 1.1 points to 50.05 cents on the dollar.
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