Loan & DebtJun 4, 2026, 08:46 AM
Warner Bros. Discovery Secures $13B Credit Facility
AI Summary
Warner Bros. Discovery, Inc. subsidiary, Discovery Global Holdings, Inc., has entered into a First Lien Credit Agreement, securing $13,000 million in USD-denominated and €1,717 million in Euro-denominated 7-year term loans. The proceeds were used to fully repay $15,000 million in outstanding loans from a prior bridge loan agreement. The new credit facility is secured by substantially all assets of the company and its subsidiaries and includes standard covenants, with no financial maintenance covenant.
Key Highlights
- Discovery Global Holdings, Inc. entered into a First Lien Credit Agreement for $13,000 million USD and €1,717 million EUR term loans.
- The new term loans mature on June 4, 2033, with Initial Dollar Term Loans amortizing at 1.00% annually.
- Proceeds were used to repay $15,000 million of outstanding loans under a previous bridge loan agreement.
- Interest rates are Term SOFR + 2.50% or Base Rate + 1.50% for USD loans, and EURIBOR + 2.50% for EUR loans.
- The agreement includes customary representations, warranties, and affirmative/negative covenants, with no financial maintenance covenant.
- Obligations are secured by a lien on substantially all assets of the Company, DGH, and certain subsidiaries.
Price Impact
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