WeWork Issues $250 Mln Of Senior Secured Notes Due 2025 To SoftBank Vision Fund II-2

(RTTNews) - WeWork Inc. (WE), a flexible space provider, said that it issued $250 million in aggregate principal amount of Senior Secured Notes due 2025 to SoftBank Vision Fund II-2 L.P., a limited partnership established in Jersey and affiliate of SoftBank Group Corp.

As of December 31, 2022, after giving effect to the issuance of the Notes, the company expects its cash, commitments and access to liquidity to be about $1.35 billion, which is in line with management's expectations.

The Notes will mature on March 15, 2025 and bear interest at a rate of 7.50% per annum to, but excluding, February 15, 2024, payable semi-annually in cash in arrears, and 11.00% per annum from and after February 15, 2024 to, but excluding, the maturity date of the Notes, payable semi-annually in the form of PIK Interest.