October 15, 2019 / 5:16 PM / a month ago

WeWork bond prices at record low on possible debt-heavy financing deal

NEW YORK, Oct 15 (Reuters) - The price of WeWork's U.S. junk bond fell to an all-time low on Tuesday, last trading at 78 cents on the dollar, as the company weighed financing options including a package that may include at least $2 billion of unsecured notes with a 15% coupon.

The office sharing company's May 2025 7.875% junk bond worth $702 million was last down 12.5%, down 25.7% from a record high in mid-August.

WeWork parent We Companies is leaning toward a near $5 billion financing package led by JPMorgan Chase & Co, instead of selling a controlling stake to Japan's SoftBank Group Corp, Bloomberg reported late on Monday. That debt package may include the additional $2 billion in bonds, Bloomberg said. (Reporting by Kate Duguid)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below