• Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Nexudus - Tech Stack Lovers
Home News Business

SoftBank Officially Sells $550 Billion Of Massive WeWork Debt Package

SoftBank has offloaded $550 million of the $2.2 billion WeWork rescue package it provided the coworking firm over one year ago.

Aayat AlibyAayat Ali
December 10, 2021
in Business
Reading Time: 2 mins read
A A
SoftBank Officially Sells 550 Billion Of Massive WeWork Debt Package

More stories for you

The Future Of Online Work Is At Risk — Is This Creator Economy Prepared For The Fallout?

The Future Of Online Work Is At Risk — Is This Creator Economy Prepared For The Fallout?

2 days ago
Running Out Of Space Virtual Offices Can Grow Your Coworking Revenue Without Expanding

Running Out Of Space? Virtual Offices Can Grow Your Coworking Revenue Without Expanding

4 days ago
IWG Expands In Budapest With Two New Flexible Office Locations

IWG Expands In Budapest With Two New Flexible Office Locations

1 week ago
ClassPass And WeWork Partner To Provide New On Demand Access to Workplace And Wellness Offerings

ClassPass And WeWork Partner To Provide New On Demand Access to Workplace And Wellness Offerings

1 week ago

SoftBank has sold $550 million of WeWork debt that was given to the coworking firm as part of a $2.2 billion rescue package during the summer of 2020. 

The Japanese conglomerate offloaded around a quarter of the debt package, which carried a 5% coupon and will mature in July of 2025 at 86 cents on the dollar. 

Advertisements
Maximize Flexible Space Revenue

The price brought the yield bonds to 9.75%, which is above the yield on WeWork’s current debt. 

“The commitment from a broad set of investors indicates a continued support for WeWork’s long-term vision and an ongoing belief in the success of the business,” the company said in a statement.  

Advertisements
Maximize Flexible Space Revenue

This sale puts pressure on the coworking firm’s other debts. For instance, the bond maturing in 2025 with a coupon of 7.875% fell from 98 cents on the dollar to 95 cents over the past month. 

Credit ratings agency Fitch gave the bonds a C minus, which is one level above default. However, Fitch believes that WeWork has enough cash to continue operating. 

“However, a high degree of uncertainty remains surrounding the office market environment, Covid-19 and exogenous shocks including the evolving Omicron coronavirus variant,” said Kevin McNei, an analyst at Fitch. “WeWork would require additional liquidity sources if the office market remains depressed for an elongated period.” 

Advertisements
Subscribe to the Future of Work Newsletter
Source: Financial Times
Tags: Business
Share6Tweet4Share1
Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

Other Stories Recommended For You

The Future Of Online Work Is At Risk — Is This Creator Economy Prepared For The Fallout?
Workforce

The Future Of Online Work Is At Risk — Is This Creator Economy Prepared For The Fallout?

byEmma Ascott
2 days ago

Senator Mike Lee's bill to ban pornography could impact hundreds of thousands of workers.

Read more
Running Out Of Space Virtual Offices Can Grow Your Coworking Revenue Without Expanding

Running Out Of Space? Virtual Offices Can Grow Your Coworking Revenue Without Expanding

4 days ago
IWG Expands In Budapest With Two New Flexible Office Locations

IWG Expands In Budapest With Two New Flexible Office Locations

1 week ago
ClassPass And WeWork Partner To Provide New On Demand Access to Workplace And Wellness Offerings

ClassPass And WeWork Partner To Provide New On Demand Access to Workplace And Wellness Offerings

1 week ago
Advertisements
Workspaces Run Better On UltraSoftBIS
Advertisements
Workspaces Run Better On UltraSoftBIS

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00