General World News

WeWork is now reportedly talking with JPMorgan about a $5 billion credit line and could run out of cash next month without it

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  • WeWork and lenders led by JPMorgan are discussing a $5 billion credit line for the struggling company, Bloomberg reported.
  • The commercial real estate giant could run out of cash as soon as next month, Bloomberg and the Financial Times both reported.
  • The amount of financing it’s now seeking is bigger than previously reported, and the amount of time it has left before it runs out of cash is significantly shorter.
  • WeWork was expecting to raise $3 billion in an initial public offering last month, which would have also unlocked $6 billion in additional debt financing, but all that fell read more >>>

    Source:: BusinessInsider.Com