Office sharing startup may opt for JPMorgan’s financing package over Japan’s SoftBank Group Corp’s offer which comes with more strings attached.

According to a report from Bloomberg, WeWork prefers the option of a near $5 billion financing package led by JPMorgan Chase & Co rather than SoftBank Group Corp’s option which will see the Japanese giant get a controlling stake.

The JPMorgan option may include at least $2 billion of unsecured notes with 15% coupon.

S per a source familiar with the matter at hand, SoftBank has prepared a financing package that would give it a controlling stake.

WeWork began negotiating with JPMorgan on a debt deal following the shelving of its planned initial public offering (IPO) last month over investor concerns regarding its valuation and business model.

Neither WeWork, SoftBank, or JPMorgan responded to requests for comments.

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Tags: business model, controlling stake, debt deal, finance, financing, Initial public offering, investor concerns, IPO, JPMorgan Chase & Co, package, Softbank Group Corp, unsecured notes, valuation, WeWork