Markets

Cash-strapped WeWork got an early SoftBank payment of $1.5 billion — and the board now controls Neumann’s shares

On Wednesday SoftBank paid WeWork $US1.5 billion, an earlier-than-expected financing boost for the cash-strapped company. “This financing package enables the company to accelerate the path to profitability and free cash flow generation,” new Chairman Marcelo Claure said in a statement. Adam Neumann meanwhile has been moved to a “board observer” […]
Cash-strapped WeWork got an early SoftBank payment of $1.5 billion — and the board now controls Neumann’s shares
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 will reportedly raise billions selling debt before its IPO

WeWork is reportedly preparing to raise between $US3 billion and $US4 billion in new debt financing before its expected initial public offering. The Wall Street Journal first reported the news on Sunday, citing sources familiar with the matter that said the debt pile could grow to as much as $US10 […]
WeWork will reportedly raise billions selling debt before its IPO