The financing was secured from a consortium of 18 banks, which syndicated its bridge loan and finalized $5 billion in senior term loans and a $5 billion revolving credit facility, while dropping a separate $3.5 billion credit line.
The loans are secured by a first-priority claim on all assets, including Paramount Global, Skydance Media, and Warner Bros., after the merger closes.
The deal’s financing is set to be one of the largest debt packages this year, with the combined company expected to carry nearly $80 billion in net debt. As of last year, Paramount had about $10.36 billion in net debt, while Warner Bros. held roughly $29 billion.
Paramount–WBD Deal Gains Funding Boost
Qatar Investment Authority (QIA) and Abu Dhabi’s L’imad Holding Co are reported to be the other two sovereign-wealth funds involved in the financing deal. The deal could reportedly close as soon as the end of July.
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