Percent Coupon: Office-Sharing Venture and Emergency Borrowing

percent coupon: Notably, the financing could include at least 2 billion of unsecured payment-in-kind notes with an unusually hefty 15 percent coupon, one source said, according to The Japan Times. WeWork's leaders apparently hope to turn around the office-sharing venture with emergency borrowing, even if it's expensive, rather than watching early backers' equity and influence diminished in a rescue by Soft Bank. A roughly 5 billion financing package led by JPMorgan Chase & Co. is said to be the company's preferred option, rather than selling a controlling stake in itself to Soft Bank Group Corp., according to people with knowledge of the matter. ; The structure and terms under discussion may change depending on investor appetite. Top stakeholders include controversial WeWork co-founder Adam Neumann, as well as venture capital giant Benchmark Capital. JPMorgan's bankers are discreetly sounding out investors and floating potential terms for the package of debt, which could help the unprofitable startup avoid running out of money as soon as next month. Their holdings soared in value and then cratered as investors spurned an attempted initial public offering, which was halted last month. (news.financializer.com). As reported in the news.