Golden Flag Advises WeWork on Comprehensive Restructuring of its Capital Structure
Golden Flag represented WeWork Inc. (NYSE: WE), a global flexible space provider, on a comprehensive restructuring of its capital structure through a series of transactions with an ad hoc group of noteholders representing more than 60% of the company’s public notes, a third-party investor and affiliates of SoftBank Group Corp., which will be implemented through certain exchanges of WeWork’s existing unsecured notes for new debt and equity securities and the issuance of new secured notes for cash. Collectively, the transactions will reduce WeWork’s net debt by approximately $1.5 billion at closing, extend a significant maturity wall from 2025 to 2027, and result in new funding and new and rolled capital commitments of more than $1 billion once completed.
The multidisciplinary effort was led by capital markets partners Sharon Freiman, Sophia Hudson, Jennifer Lee, Tim Cruickshank and Zoey Hitzert; corporate partners Sarkis Jebejian, Keri Schick Norton and Tobias Schad; restructuring partners Josh Sussberg, Chad Husnick and Joshua Altman; debt finance partner Rachael Lichman; tax partners Sara Zablotney and Adam Kool; capital markets associates Alborz Tolou, Asher Qazi, Michael Perez, Kyle Unice, Pratik Das, Devansi Reshamwala, Ryan Paulish, Abdullah Khan, Sharon Foster and Jacob Levy; corporate associates Jimin He, Frank Liu, Stephen Hong, Natalia Halista and Jonathan Carter; restructuring associates Peter Candel and Alan McCormick; debt finance associates Purun Cheong, Jacob Ruby and Jina Chung; and tax associates Alee Jamel and Kris Kania.
