Relevant Document:
8-K
WeWork Inc. today announced that on Oct. 30 it entered into a forbearance agreement with certain noteholders beneficially owning, collectively,
(i) approximately 95.6% of the series I first lien notes,
(ii) approximately 93.9% of the second lien notes,
(iii) 100% of the series II first lien notes,
(iv) 100% of the series III first lien notes,
(v) 100% of the second lien exchangeable notes and
(vi) 100% of the third lien exchangeable notes.
On October 30, WeWork Companies said it entered into a satisfaction letter with SoftBank Vision Fund II-2 L.P., Goldman Sachs International Bank, as senior tranche administrative agent, Kroll Agency Services Limited, as junior tranche administrative agent, and certain other issuing creditors and L/C participants party thereto, each of which is a party to that certain credit agreement, dated as of Dec. 27, 2019.
The company also said that it has elected to withhold an interest payment of approximately $6.4 million payable in cash on Nov. 1 with respect to its 7.875% senior notes due 2025.