WeWork to withhold interest payment on some notes
© Reuters. FILE PHOTO: A WeWork logo is seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch/File Photo - Debt-laden WeWork said on Tuesday it has decided to withhold interest payment of about $6.4 million on some of its notes as the flexible workspace provider looks to improve its balance sheet.
The SoftBank-backed company added it has entered into an agreement with creditors for temporary postponement of payments for some of its other notes, with the debt-grace period nearing an end.Earlier this month, the company withheld interest payments of about $95 million related to some of its notes and entered into a grace period.
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WeWork to withhold interest payment on some notesDebt-laden WeWork (WE.N) said on Tuesday it has decided to withhold interest payment of about $6.4 million on some of its notes as the flexible workspace provider looks to improve its balance sheet.
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