- WeWork strikes a deal to cut about $1.5B of debt and secured over $1B of capital commitments.
- SoftBank Group will convert $1B of unsecured notes into equity.
- WeWork delayed filing its annual report.
- Transactions will result in a more sustainable capital structure for the company.
WeWork Clinches Major Restructuring in Quest For Profits
WeWork Inc. struck a deal to cut about $1.5 billion of debt on a net basis and secured more than $1 billion of capital commitments as Chief Executive Officer Sandeep Mathrani works to push the firm toward profitability.
Sridhar Natarajan
