Banks increase Warner Bros loan to 10 billion for merger
Wall Street banks increased a loan for Warner Bros Discovery to over $10 billion. The financing supports debt refinancing for its merger with Paramount.
JPMorgan Chase & Co and a consortium of Wall Street banks increased a loan package for Warner Bros Discovery to over $10 billion. The financing supports debt refinancing ahead of Paramount's planned acquisition of Warner Bros Discovery, a deal valued at approximately $110 billion. This capital injection provides liquidity for the merger, which combines Paramount assets including CBS, MTV, Comedy Central and BET with Warner Bros Discovery properties such as CNN, TNT and Food Network.
The financing structure includes a U.S. dollar term loan that rose to $9 billion from an initial $5 billion. A separate 1 billion euro loan remained unchanged. These terms were detailed in documents seen by Reuters on Thursday.
