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WeWork to raise up to $4 bln in debt before IPO

Video Credit: Reuters Studio - Duration: 00:49s - Published
WeWork to raise up to $4 bln in debt before IPO

WeWork to raise up to $4 bln in debt before IPO

Shared office space manager WeWork looks to raise up to $4 billion in debt before it goes public, a source said.

As Fred Katayama reports, the move is aimed at fueling investor confidence in the startup.

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WeWork is loading up on debt ahead of plans to go public.

A source says the shared office space manager is looking to borrow up to $4 billion before its IPO, and that amount could balloon to as much as $10 billion over the next few years.

If it can pull the deal together, the money-losing startup might assuage investors that it'll have the funds needed to grow the business to profitability.

WeWork may want to avoid what happened to Uber and Lyft.

The car sharing services' IPOs have been duds so far.

Their stocks have sunk below their pre-launch prices, dogged by investor concerns about their steep losses and lack of a timetable to reach profitability.

The source says WeWork has met with the CEOs of JPMorgan Chase and Goldman Sachs to discuss the debt offering.

All three companies have declined to comment.




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