Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

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

Published 10/15/2019, 01:28 PM
Updated 10/15/2019, 01:31 PM
WeWork bond prices at record low on possible debt-heavy financing deal

NEW YORK (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 (N:JPM), instead of selling a controlling stake to Japan's SoftBank Group Corp (T:9984), Bloomberg reported late on Monday. That debt package may include the additional $2 billion in bonds, Bloomberg said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.