Who is buying this stuff and how are you selling it?
I thought some on here may have some insight into the valuation of Wework, or possibly be working on the assignment. There are a ton of banks shopping around its bond offering, and I'm curious to know what types of investors have interest in this, and why. Also, how does the underwriting of the company work, if there is no cash flow to service the debt and pay coupons?
Any color on the structure of the transaction or investors would be great. I worked at an IB but we placed equity into different projects. The limited exposure i had to credit has me thinking there is no upside, a ton of downside if everything goes bust in a year or two, and the note is unsecured. Why would anyone invest in this as oppose to other comparable yielding assets with security or upside?
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