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JPMorgan & Goldman Sachs to lead WeWork’s IPO

WeWork is close to naming JPMorgan and Goldman Sachs to lead its initial public offering next month. The fee pool for the IPO has climbed to 3.5% in recent days as the company sets up a $6 billion debt-financing package that would fall into place only if the listing is a success.

  • Be Smart: The co-working firm is seeking to borrow $2 billion through a letter-of-credit facility and $4 billion with delayed-draw term loan. Banks will have to make good on their commitments only if at least $3 billion is raised in the IPO, Bloomberg reports.
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