WeWork Bonds Plunge As Company Officially Pulls IPO Filing

From WeWork Co-CEOs:

“We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong.”

We suggest something about the “core” is anything but “remaining strong”…

 

And the reaction was swift with bond prices tumbling to record lows (and the cost of funding for the real estate middle man to record highs)…

Source: Bloomberg