Paramount’s Warner Deal Bonds Fall to 96 Cents on First Trading Day
The eight-year dollar second-lien notes were priced at par on Sept. 30. Paramount’s financing package also includes euro-denominated notes and term loans.
Paramount Skydance’s eight-year dollar second-lien notes traded at about 96 cents on Oct. 1, a day after they were priced at par as the company assembled financing for its planned acquisition of Warner Bros. Discovery.
Paramount priced $41.4 billion in dollar-denominated notes and €885 million in euro-denominated notes on Sept. 30. The financing also includes $8.5 billion and €850 million term-loan tranches.
The notes carry coupons ranging from 6.30% to 9.125%. Paramount expects the note sale to close Oct. 5, subject to customary conditions.
The companies expect the merger to close Oct. 6, also subject to customary closing conditions.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.