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

News May 30, 2019 1 Comment

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

REUTERS: Workspace operator WeWork Cos is in talks with banks to raise US$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.

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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 US$47 billion in a series of private fundraisings.

(Reporting By Aparajita Saxena in Bengaluru; Editing by James Emmanuel)

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