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SoftBank’s financing talks about WeWork stall

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SoftBank’s $3bn WeWork financing talks with Japanese banks stall — sources

Picture: REUTERS/ISSEI KATO

Financial groups Mizuho, Mitsubishi UFJ and Sumitomo Mitsui are seeking ways to provide the financing while offsetting exposure, the people said, declining to be identified because the information is not public. SoftBank did not respond to a request for comment. Mizuho, Mitsubishi UFJ and Sumitomo Mitsui declined to comment.

But SoftBank's growing debt and turmoil at major bet WeWork earlier in 2019 also highlight the firm’s higher risk profile. “Banks cannot loosen their credit criteria only for SoftBank,” said S&P Global Ratings senior director Ryoji Yoshizawa.

 

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