The Financial News reported that shared office operator WeWork has planned a $1.75 billion letter of credit led by Goldman Sachs.
According to The Financial News, the letter of credit is in the process of being syndicated and the funds are expected to be available in January.
The credit line is a part of SoftBank Group’s $9.5 billion bailout that was declared in October when money-losing WeWork was on the point of running out of cash after announced IPO was suddenly withdrawn in September.
