WeWork bond drops, spread hits a record on report of delayed share tender
Share:
(Reuters) - WeWork's junk bond price dropped and its risk premium shot to a record high on Thursday following a report that its main backer had yet to deliver on a plan to buy $3 billion of stock from existing shareholders.The Real Deal, citing anonymous sources, said Japan's Softbank Corp has yet to commence the tender offer planned as part of a rescue package for the co-working office space startup.