WeWork Cos. is in talks with banks about arranging a $2.75billion credit line ahead of a planned initial public offering(IPO), according to people with knowledge of the matter.
JPMorgan Chase & Co. is leading the potential financing,said the people, who asked not to be identified because the plansaren't public. Representatives for the bank and WeWork declined tocomment.
WeWork, which rents office space and desks to workers around theworld, said in April it had filed paperwork confidentially with theU.S. Securities and Exchange Commission (SEC) for an IPO. It couldbe the year's biggest offering after Uber Technologies Inc.WeWork's largest backers include SoftBank Group Corp., whichearlier this year decided against taking a controlling stake.
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