Financial news

WeWork looking for $2.75 billion credit line ahead of IPO: Bloomberg

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Via Reuters Finance

FILE PHOTO: The WeWork logo is displayed outside a co-working space in New York City, New York U.S., January 8, 2019. REUTERS/Brendan McDermid

(Reuters) – Workspace operator WeWork Cos is in talks with banks to raise $2.75 billion in debt ahead of its initial public offering, Bloomberg reported on Wednesday, citing people familiar with the matter.

JPMorgan Chase & Co is leading the potential financing, Bloomberg said.

WeWork declined to comment, while JPMorgan did not immediately respond to a request for comment.

The company is currently preparing for a stock market listing, which could be the largest IPO after ride-hailing firm Uber Technologies.

In April, WeWork filed confidentially with the U.S. Securities and Exchange Commission for an IPO and was last valued at about $47 billion in a series of private fundraisings.

Reporting By Aparajita Saxena in Bengaluru; Editing by James Emmanuel


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