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WeWork CEO’s Lenders Seek Changes to His $500 Million Credit Line

  • WeWork’s lower valuation has raised concerns about collateral
  • JPMorgan, UBS, Credit Suisse provided loan to WeWork’s CEO
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WeWork Delays IPO, Bonds Plunge by Most on Record

Banks that provided a $500 million credit line to WeWork Chief Executive Officer Adam Neumann are looking to revise the terms as his company’s struggle to go public casts doubt on the value of his collateral.

The frosty reception to WeWork’s initial public offering has raised concerns within the consortium of lenders that shares Neumann pledged for the loan have decreased in value and may not adequately cover the potential risk, people briefed on the discussions said, asking not to be named because the matter is private. It’s unclear what changes they may seek, or what right they may have to make demands.