Milbank LLP represented the issuing banks in connection with the $650.0 million senior secured, first priority cash collateralized debtor-in-possession “first out” letter of credit facility for WeWork Companies U.S. LLC, a subsidiary of office-sharing company WeWork Inc. (OTCMKTS: WEWKQ) (“WeWork”), as part of WeWork’s chapter 11 bankruptcy proceedings. The Milbank teams were led by New York-based Global Leveraged Finance partners Michael J. Bellucci and George Zhang along with associates Emily Rutcofsky, Julia Wennberg, Michael Mey and Yuna Pyun and New York-based Financial Restructuring partner Michael Price along with special counsel Brian Kinney and associate Michael Scian.