WeWork has received commitments from at least 10 banks for $ 6bn in credit guarantees contingent on its acquisition . Investment bank Capital is understood to have been joined by Bank of America , Barclays , Citigroup , Credit Suisse , Deutsche Bank , Goldman Sachs , HSBC , Morgan Stanley , UBS and Wells Fargo in agreeing to provide between $ 500 m and $ 750 m each for a $ 2bn letter of credit facility and a $ 4bn delayed - draw term loan . The delayed-draw facility will be structured as a “warehouse financing” to which the banks were expected to commit by August 2, but will only be drawn upon if the company successfully raises at least US$3bn in its planned IPO. The $ 4bn tranche is expected to include a mechanism that will allow the debt to be switched into either a term loan option to be sold to institutional investors or a high - yield bond after the company ’s IPO .
WeWork has received commitments from at least 10 banks for $ 6bn in credit guarantees contingent on its acquisition . Investment bank Capital is understood to have been joined by Bank of America , Barclays , Citigroup , Credit Suisse , Deutsche Bank , Goldman Sachs , HSBC , Morgan Stanley , UBS and Wells Fargo in agreeing to provide between $ 500 m and $ 750 m each for a $ 2bn letter of credit facility and a $ 4bn delayed - draw term loan . The $ 4bn tranche is expected to include a mechanism that will allow the debt to be switched into either a term loan option to be sold to institutional investors or a high - yield bond after the company ’s IPO .