FILE PHOTO: A man walks into a WeWork space in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri/File Photo
The package would significantly increase the stake of SoftBank, which already owns around one third of WeWork, and further dilute the influence of co-founder Adam Neumann, the Journal reported. WeWork is working with JPMorgan Chase & Co to negotiate a $3 billion debt deal after a planned initial public offering was tabled last month because of investor concerns about how it was valued and its business model, sources told Reuters.
In recent weeks, global credit rating agencies Standard & Poor’s and Fitch Ratings have also downgraded WeWork’s credit ratings deeper into junk territory, while the company’s junk bond is trading at a record low.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SoftBank is reportedly seeking to take control of WeWork through a financing packageThe U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff escalation remained a serious risk. WeWork... soon to be Webankrupt That's big news - but also not surprising! Such a bad idea... only so they don’t have to write down their investment in the vision fund. Ponzi on
Source: CNBC - 🏆 12. / 72 Read more »
SoftBank Seeking to Take Control of WeWork Through Financing PackageSoftBank has prepared a financing package that would give it control of WeWork and further sideline its founder Adam Neumann in exchange for relieving the shared-office startup’s looming cash crunch, according to people familiar with the matter. POS. /['/.[/[]/[]/[/ 'technology company' 'vision' 'the future' 'we achieve a new way to do business'.. F****g useless Adam!
Source: WSJ - 🏆 98. / 63 Read more »
WeWork discusses $5-billion debt package with lendersWeWork is in talks with lenders led by JPMorgan Chase & Co. about a $5 billion debt package, seeking to head off a cash crush next month. 9186291898 and 9186391898 Let’s turn We Work buildings into homeless service centers. “The fast-growing, money-losing startup...” Lol, let’s lend then another billion dollars.
Source: latimes - 🏆 11. / 82 Read more »
WeWork employee equity could be worth nothing in an IPO or bankruptcy - Business InsiderWeWork has indefinitely postponed its IPO and may run out of cash as soon as next month. That could spell disaster for the value of employee shares.
Source: BusinessInsider - 🏆 729. / 51 Read more »
SoftBank is reportedly seeking to take control of WeWork through a financing packageThe U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff escalation remained a serious risk. WeWork... soon to be Webankrupt That's big news - but also not surprising! Such a bad idea... only so they don’t have to write down their investment in the vision fund. Ponzi on
Source: CNBC - 🏆 12. / 72 Read more »
SoftBank Seeking to Take Control of WeWork Through Financing PackageSoftBank has prepared a financing package that would give it control of WeWork and further sideline its founder Adam Neumann in exchange for relieving the shared-office startup’s looming cash crunch, according to people familiar with the matter. POS. /['/.[/[]/[]/[/ 'technology company' 'vision' 'the future' 'we achieve a new way to do business'.. F****g useless Adam!
Source: WSJ - 🏆 98. / 63 Read more »