This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
WeWork Explores Fresh Equity Raise
March 7, 2022
WeWork is said to be in discussions to raise fresh equity worth ~$200mn, with some sources saying that the capital may be raised via private investment in public equity, or PIPE. Sources add that the capital raising plan comes after its shares have fallen over 50% since its IPO in October 2021. Given that WeWork’s debt contracts restrict its ability to raise new borrowings, the co-working company does not plan to take on new debt. Bloomberg notes that the PIPE raise if successful, would be disclosed alongside its earnings announcement on March 11. No decisions have been finalized with WeWork on Friday saying, “The company has no plans to issue additional equity at this time… Our liquidity at the end of the third quarter stands at $2.3 billion.”
WeWork’s bonds were lower with its 7.875% 2024s down 2.4 points to 88.13, yielding 12.55%.
For the full story, click here
Go back to Latest bond Market News
Related Posts:
WeWork Burns $3.2bn in 2020; Occupancy Fell to 47%
March 23, 2021
WeWork Upgraded to CCC+ by Fitch
October 25, 2021
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.