WeWork bond prices falls after SoftBank questions CEO - MarketAxess

FILE PHOTO: The WeWork logo is displayed on the entrance of a co-working space in New York City, New York U.S., January 8, 2019. REUTERS/Brendan McDermid - Copyright Brendan McDermid(Reuters)

By Reuters

Published on 23/09/2019 - 16:04•Updated 11/05/2024 - 04:00

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NEW YORK (Reuters) - The price of We Company's 7.875% May 2025 junk bond fell 1.1% on Monday morning, MarketAxess data showed, following reports from sources that investor SoftBank Group <9984.T> is exploring ways to replace Adam Neumann as chief executive of the WeWork parent.

The showdown between Japan's SoftBank and the U.S. office-sharing startup comes after We Company postponed its initial public offering last week, following pushback from prospective investors over its widening losses and Neumann's tight grip on the company.