WeWork extends letter-of-credit facility, reduces commitments

Chicago, Nov. 29 – WeWork amended a letter agreement with obligor SoftBank Group Corp. on Nov. 24, according to an 8-K filed with the Securities and Exchange Commission.

The credit agreement from Dec. 27, 2019 lists Goldman Sachs International Bank as administrative agent.

The maturity date has been extended to no later than Feb. 10, 2024.

Additionally, commitments will reduce to $1.25 billion from $1.75 billion on Feb. 10, 2023.

WeWork is a New York-based provider of shared workspaces and related business services.

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