(Bloomberg Opinion) — SoftBank Group Corp.’s $9.5 billion bailout has rescued WeWork from the threat of bankruptcy. But make no mistake: The unicorn’s free-spending days are over. Its savior is far from a bottomless pit of money. While WeWork had an eye-watering $22 billion of debt at the end of June plus $47 billion of looming lease-payment obligations, its rescuer isn’t in such great shape either. SoftBank is a junk-rated issuer, with the equivalent of $62 billion in net debt. From now on, founder Masayoshi Son will have to manage his cash pile carefully.The Japanese company has done an excellent …read more
Source:: Yahoo Finance
