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.