Shared workplace operator WeWork said on Tuesday it has arranged a $1.75 billion...
FILE PHOTO: A WeWork logo is seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch - RC1962504960/File Photo
The credit line is part of SoftBank Group Corp’s $9.5 billion bailout that was announced in October when money-losing WeWork was on the brink of running out of cash after its plans to go public were abruptly withdrawn a month earlier. “We are pleased that WeWork and SoftBank Group Corp have entered into a commitment letter with Goldman Sachs for a new $1.75 billion senior secured letter of credit facility,” WeWork said in a statement.
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