WeWork extends senior secured notes by one year to 2024

Chicago, Nov. 29 – WeWork extended its 7½% senior secured notes under the senior secured notes note purchase agreement from Oct. 20 with WeWork, WW Co-Obligor Inc. and StarBright WW LP to Feb. 12, 2024 from Feb. 10, 2023, according to an 8-K filed with the Securities and Exchange Commission.

WeWork can draw $500 million of notes under the agreement.

The draw brings WeWork’s availability of combined commitments up to $1.75 billion, or back up to $1.75 billion as the company reduced its letter-of-credit facility by $500 million in a concurrent transaction on Nov. 24.

WeWork also has agreed to use commercially reasonable efforts to assist SoftBank in the resale or refinancing of a portion of WeWork’s 5% senior notes due 2025.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.