The media company refinances debt with $15 billion in investment-grade loans before its planned acquisition by Paramount Skydance.
Warner Bros. Discovery priced $15 billion in investment-grade loans to refinance debt ahead of its sale to Paramount Skydance. The deal includes $13 billion and €1.72 billion ($2 billion) tranches with margins 2.5 percentage points above benchmark rates.
The refinancing follows recent consolidation trends in the media sector, as companies seek to streamline operations and reduce leverage. The loan terms reflect current market conditions and investor demand for high-grade corporate debt.
The transaction precedes the anticipated merger, which aims to create a larger, more competitive entertainment conglomerate.