Daily News: July 9, 2019

Goldman Sachs, JPMorgan Lead WeWork Debt Raise Prior to IPO


The Wall Street Journal reported that space sharing company WeWork is seeking to raise as much as $10 billion through a debt facility before launching its IPO.

According to the Journal, Goldman Sachs Group and JPMorgan are structuring and backing the deal, potentially along with other banks.

The Journal added that by raising billions in new debt, WeWork would have less of a need to raise money from potential public stockholders.