WeWork and SoftBank Group agreed to extend WeWork’s secured credit commitments totaling $1.75 billion of liquidity from February 2023 to February 2024.
The agreement extended the maturity date of WeWork’s existing letter of credit facility from Feb. 10, 2023, to Feb. 9, 2024, with total commitments of $1.25 billion. The agreement also extended WeWork’s $500 million senior secured notes commitment from Starbright WW LP, a wholly-owned subsidiary of SoftBank, from February 2023 to February 2024.
