Simpson Thacher Represents Initial Purchasers in WeWork’s Debut High Yield Notes Offering
04.30.18
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Simpson Thacher represented J.P. Morgan Securities LLC and other initial purchasers in connection with a debut high yield notes offering by WeWork Companies Inc. (“WeWork”) of $702 million aggregate principal amount of 7.875% Senior Notes due 2025 pursuant to Rule 144A and Regulation S. The deal closed on April 30, 2018.
WeWork has created a global lifestyle brand in real estate and pioneered a category, “space as a service.” WeWork’s business has evolved from its origins as a flexible, community-oriented workspace for entrepreneurs and small companies to a global solution for real estate as a service for Fortune 500 companies.
The Simpson Thacher team included John C. Ericson, Teresa Chen, Sung Bum Cho and Richard Ragusa (Capital Markets); Justin Lungstrum and Jacqueline Yuan (Credit); Jonathan Cantor and Sarah Julian Duffy (Tax); Lori Lesser (Intellectual Property); Timothy Mulvihill (Environmental); Timothy Gallagher and Dennis Loiacono (Real Estate); Jeanne Annarumma and Adam Cohen (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).