WeWork Cos. is in talks with banks about arranging a $2.75 billion credit line ahead of a planned initial public offering, according to people with knowledge of the matter.

JPMorgan Chase & Co. is leading the potential financing, said the people, who asked not to be identified because the plans aren’t public. Representatives for the bank and WeWork declined to comment.

WeWork in April said it had filed paperwork confidentially with the U.S. Securities and Exchange Commission for an IPO, which could be the year’s biggest after Uber Technologies Inc. The company’s biggest backers include Softbank Group Corp., which earlier this year decided against taking a controlling stake.

Securing a credit line from Wall Street often precedes an IPO. Companies going public often reward banks that make big credit commitments with roles in their IPOs, with lenders sometimes offering better terms on the financing in return. In 2014, WeWork obtained a $650 million revolver led by JPMorgan that expires in late 2020, according to data compiled by Bloomberg.

The company’s bonds, priced in 2018 and due in 2025, closed at $93.50 on Tuesday, a decline from a peak of $99.63 earlier this month.

WeWork, one of the world’s most valuable startups, said earlier this month that its loss narrowed slightly to $264 million in the first quarter. Its IPO will test public investors’ appetite for another tech-infused, cash-burning business after Uber’s disappointing debut.