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Report: WeWork seeks $2.75B credit line ahead of parent IPO

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Report: WeWork seeks $2.75B credit line ahead of parent IPO

Coworking giant WeWork Cos. Inc. is in discussions with JPMorgan Chase & Co. and other banks for a $2.75 billion credit line ahead of the planned IPO of its parent, Bloomberg News reported, citing people familiar with the matter.

JPMorgan will lead the potential financing, the news outlet said, adding that the bank also led the arrangement of a $650 million revolver for WeWork in 2014 that expires in late 2020, Bloomberg added, citing its own data.

WeWork and JPMorgan representatives declined to comment, the news outlet noted.