WeWork bonds hit low, highlighting questions on the startup’s future
WeWork bonds plumbed new lows Tuesday, highlighting questions about the shared-office startup’s future as it explores options for raising desperately needed cash after shelving an initial public offering.
WeWork’s 7.875% unsecured bonds due in 2025 traded as low as 79 cents on the dollar, according to MarketAxess, translating to a yield of around 13.2%. That was down from 87 cents at the end of Friday and below its previous low of 81.25 cents reached earlier the same day.
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