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Goldman Sachs To Extend $1.75B Credit Line To WeWork

WeWork, the beleaguered co-working and commercial real estate subleasing company, has reportedly secured $1.75 billion in additional debt financing as it plots a path forward following its failed attempt at going public, the departure of its eccentric and controversial co-founder Adam Neumann, layoffs of thousands of employees, and an all-but-total takeover of the business by its largest financier, SoftBank and its Vision Fund.

The new debt facility replaces existing lines of credit totaling approximately $1.1 billion, Bloomberg reported.

It’s also part of SoftBank Group Corp.’s $9.5 billion capital commitment to WeWork, made in October as the company failed to make its public debut following investor scrutiny of its disclosed financials as well as numerous financial conflicts of interests involving now-former CEO Neumann.

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