WeWork Discusses $5 Billion Debt Package With Lenders
- Bonds rise on financing discussions as cash crunch looms
- JPMorgan leading banks for package that could come next week
Photographer: David 'Dee' Delgado/Bloomberg
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WeWork is in talks with lenders led by JPMorgan Chase & Co. about a $5 billion debt package, seeking to ease a cash crunch that could leave the office-sharing company short of money as soon as next month, according to people familiar with the matter.
One option that’s been floated is raising $3 billion or more of the debt package through the sale of high-yield bonds, some of the people said. The financing could start to more formally come together as early as next week, but it may take longer for its structure and terms to be finalized, said the people, who requested anonymity because the talks are private.