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0.000453720508166943 0.000453720508166943 0.000453720508166943 0.00136116152450096 0.00136116152450096 0.000453720508166943 -0.000181488203266752 0.0018148820326679
Stock impact report

The Wall Street Journal: Office-space startup WeWork raises $702 million in bond sale [MarketWatch]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: MarketWatch
Office-space startup WeWork raises $702 million in bond sale WeWork Cos. sold $702 million in bonds Wednesday, becoming the latest startup to win over debt investors despite a cash-burning history that is atypical for a bond issuer. WeWork, a New York-based office-space provider with a hip reputation and $20 billion valuation, was able to sell its seven-year bonds at par with a 7.875% interest rate, people familiar with the matter said. That rate was in line with the guidance set by a JPMorgan-led group of underwriters on Tuesday, although the size of the deal was increased from $500 million. Investors looking at the deal cited concerns about WeWork’s minimal assets, sizable lease obligations, negative cash flow and strategic challenges as the company expands beyond high-rent cities like New York and San Francisco. Still, some were lured by a relatively high interest rate for the company’s single-B credit rating, and comforted by the support it has won from equity holders such as Soft Show less Read more
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