Deals
WeWork Seeks $6 Billion Financing, Contingent on IPO Success
- JPMorgan is said to signal commitment of up to $800 million
- Firms will have to make good on pledges if IPO hits $3 billion
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WeWork Cos. is setting up $6 billion in financing to pursue its global ambitions, but there’s an unusual catch: It must first succeed in its initial public offering next month.
The company has been meeting with analysts this week, outlining its business and plans for expansion as it prepares for a stock-market debut. Behind the scenes, the firm is seeking to borrow in two ways: a $2 billion letter-of-credit facility and a $4 billion delayed-draw term loan, people with knowledge of the matter said, asking not to be named because terms are private.