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WeWork looking to raise US$3b to US$4b in debt ahead of IPO: source

WeWork looking to raise US$3b to US$4b in debt ahead of IPO: source

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[BENGALURU] Shared office space manager WeWork Cos is looking to raise US$3 billion to US$4 billion in debt before it goes public, a source familiar with the matter said on Sunday, a move aimed to fuel investor confidence in the company.

The money raised via the debt offering, which will be separate from the money the company will invest in its floatation, could grow as big as US$10 billion over the next few years, the Wall Street Journal had earlier reported.

The debt facility by the New York-based company could raise more money for the company than the initial public offering itself, the WSJ report said.

A spokesman for WeWork declined to comment. 

REUTERS