JPMorgan-Led Banks Raise Warner Bros Discovery Loan to $10.2 Billion Ahead of Paramount Merger
Updated
Updated · Reuters · May 21
JPMorgan-Led Banks Raise Warner Bros Discovery Loan to $10.2 Billion Ahead of Paramount Merger
2 articles · Updated · Reuters · May 21
$10.2 billion in leveraged loans has been lined up for Warner Bros Discovery, with JPMorgan leading banks that increased the package ahead of the company's planned merger with Paramount Skydance.
The enlarged financing is meant to refinance Warner Bros Discovery's short-term debt before the deal closes, according to terms seen by Reuters.
The package includes a $9 billion U.S. dollar facility and a €1 billion tranche, equivalent to about $1.16 billion.
The loan expansion underscores how Warner Bros Discovery is shoring up its balance sheet as it prepares for one of the media sector's biggest pending combinations.
With private credit defaulting at record rates, is this $110B media mega-merger built on a house of cards?
While US banks get lending freedom, are Europe's stricter rules handicapping its banks in the global M&A game?
Behind the $110B deal, how many thousands of jobs will be cut to achieve the promised $6B in savings?