WeWork bonds hit record lows early Tuesday following reports that the company is eyeing a risky refinancing package from JPMorgan. The co-working company's 7.875% bonds maturing in 2025 sank to 79.3 cents on the dollar Tuesday morning. The JPMorgan package would amount to roughly $5 billion and may include $2 billion in unsecured payment-in-kind with an unusually heavy 15% coupon, according to a Bloomberg report. Read the full timeline of WeWork's downfall here.
WeWork bonds hit record lows early Tuesday following reports that the company is eyeing a risky refinancing package from JPMorgan. The co-working company's 7.875% bonds maturing in 2025 sank to 79.3 cents on the dollar Tuesday morning. The JPMorgan package would amount to roughly $5 billion and may include $2 billion in unsecured payment-in-kind with an unusually heavy 15% coupon, according to a Bloomberg report. Read the full timeline of WeWork's downfall here.
Amazing how the public markets shine a light on terrible business fundamentals.... you know the types of things investors should actually consider when investing.
No one can pay down their debt also there’s no point.