Feeling Risky? WeWork’s 15% Bonds Would Be for Bravest of Brave
- Potential debt deal may include risky payment-in-kind offering
- ‘Career risk’ in buying WeWork debt now, investor says
Photographer: Mike Short/Bloomberg
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JPMorgan Chase & Co. bankers have what might be one of the least enviable jobs on the Street today: convincing credit investors to lend to WeWork in a debt deal that practically redefines risky.
The office-sharing company is weighing a potential $5 billion debt package that could include some $2 billion of pay-in-kind bonds with a yield an eye-popping 15%, Bloomberg reported Monday.