Shared office space company WeWork prefers the option of a near $5 billion financing package led by JPMorgan Chase & Co (JPM.N) to selling a controlling stake to Japan’s SoftBank Group Corp (9984.T), Bloomberg reported late on Monday.
The debt package may include at least $2 billion of unsecured notes with 15% coupon, according to Bloomberg.
SoftBank has prepared a financing package that would give it control
over the shared office space company, a person familiar with the matter
told Reuters on Sunday.
WeWork and JPMorgan were negotiating a debt deal after the company’s planned initial public offering was tabled last month as investor concerns grew about its valuation and its business model, Reuters reported earlier this month.
SoftBank, WeWork and JPMorgan did not immediately respond to a Reuters request for comment.
https://www.reuters.com/article/us-wework-restructuring/wework-prefers-jpmorgans-financing-package-over-softbanks-control-bloomberg-idUSKBN1WU07H
WeWork and JPMorgan were negotiating a debt deal after the company’s planned initial public offering was tabled last month as investor concerns grew about its valuation and its business model, Reuters reported earlier this month.
SoftBank, WeWork and JPMorgan did not immediately respond to a Reuters request for comment.
https://www.reuters.com/article/us-wework-restructuring/wework-prefers-jpmorgans-financing-package-over-softbanks-control-bloomberg-idUSKBN1WU07H
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