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

(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

Reuters May 30, 2019 00:06:43 IST
WeWork looking for $2.75 billion credit line ahead of IPO - Bloomberg

WeWork looking for 275 billion credit line ahead of IPO  Bloomberg

(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)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes
India

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes

The Pulitzer prize winner, who was in Kandahar covering operations against Taliban, was killed when he was riding along with the Afghan Special Forces

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province
India

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province

Siddiqui had also covered the 2020 Delhi riots, COVID-19 pandemic, Nepal earthquake in 2015 and the protests in Hong Kong

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth
India

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth

Danish's photographs were not just documentation, but the work of someone who went down to eye-level, as they say in photographic parlance.