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Goldman Sachs Provides $1.75B Letter of Credit to WeWork

December 18, 2019, 08:57 AM
Filed Under: Industry News

WeWork, a pioneer in the coworking movement, has secured a $1.75 billion letter of credit with Goldman Sachs Group, according to media outlets.

According to Bloomberg News, the financing is the first hurdle cleared by SoftBank in its pledge to put together $5 billion in debt financing for WeWork as part of a bailout package. The credit facility will reportedly free up $800 million in cash for the struggling firm.







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