Coworking giant WeWork Cos. Inc.'s bankers are looking to close a new debt financing package as soon as the week of Oct. 14, as The We Co. unit faces pressure to raise new financing by the end of November following a recently postponed IPO, London's Financial Times reported, citing two people briefed on the fundraising efforts.
JPMorgan Chase is in charge of the financing talks, seeking to convince other major banks to take part in the emergency financing package for WeWork, the FT added, citing several people familiar with the matter, adding that the bank is also contemplating contributing to the financing package itself.
WeWork backer Goldman Sachs, however, has so far distanced itself from the new financing negotiations owing to concern regarding uncertainty around WeWork, the report added.
The publication could not get a comment on the matter from WeWork, JPMorgan or Goldman Sachs.
Separately, Bloomberg News reported, citing people with knowledge of the matter, that the coworking company is in discussions with lenders led by JPMorgan regarding a $5 billion debt package. Some of the people told the news outlet that the company may consider raising $3 billion or more of the debt package by selling high-yield bonds.
