Markets

WeWork’s bonds plummet to record low after company pulls its IPO

WeWork’s 7.875% notes maturing in 2025 tumbled to a record low of 86.39 cents on the dollar on Monday after the company’s latest S-1 filing said it will pull its IPO. The company’s new co-CEOs Artie Minson and Sebastain Gunningham said “We have decided to postpone our IPO to focus […]
WeWork’s bonds plummet to record low after company pulls its IPO
Markets

WeWork’s junk bonds slashed again by S&P amid company turmoil, failed IPO

S&P Global downgraded WeWork’s bonds further into junk territory late Thursday evening amid concerns the company might struggle to raise new capital to fund growth. The rating agency lowered WeWork’s credit status to “B-” from “B” and changed its outlook for the company to negative from stable. The downgrade follows […]
WeWork’s junk bonds slashed again by S&P amid company turmoil, failed IPO
Markets

WeWork bonds plummet the most on record after the company delays its IPO

WeWork’s delayed IPO effort sent its bonds tumbling Tuesday as the company’s streak of bad news continues. The shared-workspace company’s $US669 million of bonds expiring in 2025 fell as much as 7 cents Tuesday, hitting 95.8 cents. The drop was the biggest since the notes’ April 2018 issuance. WeWork said […]
WeWork bonds plummet the most on record after the company delays its IPO