Dr. Gleb Tsipursky – The Office Whisperer
Cat Johnson – Coworking Marketing Maven
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Andrea Pirrotti-Dranchak – Competitive Advantage
Jonathan Price – CRE & Flex Expert
Jeremy Fennema – Tech Innovation Alchemist
[bctt tweet=”WeWork has reportedly finalized the details of its $6 billion in financing ahead of its September initial public offering. ” username=”allwork_space”]
Reuters has reported that the coworking firm has chosen JPMorgan Chase to fund the debt package. The company is working to establish the terms of the deal with bankers for a $2 billion letter of credit and a $4 billion structured loan. This will only be available to WeWork if its IPO raises at least $3 billion.
WeWork’s loan financing package is organized so it can be drawn at the start of September, which further indicates the IPO will take place that month. Bankers at JPMorgan Chase have also indicated that Jamie Dimon will commit up to $800 million to the combined debt offering. Banks that participate in the loan will be in line for up-front fees up to 3% of their commitments. The loan is also said to be priced at Libor plus 475 basis points.
While JPMorgan Chase is expected to be the leading manager in WeWork’s IPO, Goldman Sachs is also expected to be involved.
