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