PSKY 8-K: Paramount Skydance closes $10B credit facility for WBD merger; President Jeffrey Shell departs

Paramount Skydance closes $10B credit facility for WBD merger; President Jeffrey Shell departs

Paramount Skydance Corp

Entered $10B senior secured credit facility: $2.5B 3yr term A-1, $2.5B 5yr term A-2, $5B revolving credit.

Bridge facility commitments reduced from $54B to $49B; existing $3.5B revolver increased to $5B via Amendment No. 7.

President Jeffrey Shell ceased as employee and board member effective April 8, 2026; receives base salary, target bonus over 12 months, accelerated RSU vesting, and benefits.

New facilities will fund the pending acquisition of Warner Bros. Discovery and general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Paramount Skydance Corp entered into Pro Rata Credit Agreement with Citibank, N.A. as administrative agent and collateral agent, BofA Securities, Inc., Citibank, N.A., Apollo Global Funding, LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, as joint lead arrangers and joint bookrunners, Bank of America, N.A., as syndication agent, Apollo Global Fun valued at $5.00 billion five-year revolving commitments (effective 2026-04-07).

Action: entry
Agreement: credit facility
Counterparty: Citibank, N.A. as administrative agent and collateral agent, BofA Securities, Inc., Citibank, N.A., Apollo Global Funding, LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, as joint lead arrangers and joint bookrunners, Bank of America, N.A., as syndication agent, Apollo Global Fun
Value: $5.00 billion five-year revolving commitments
Effective: 2026-04-07

Exact text from the filing

On April 7, 2026, PSKY entered into a Credit Agreement (the “Pro Rata Credit Agreement”) among PSKY, Citibank, N.A. as administrative agent and collateral agent, BofA Securities, Inc., Citibank, N.A., Apollo Global Funding, LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC, as joint lead arrangers and joint bookrunners, Bank of America, N.A., as syndication agent, Apollo Global Funding, LLC, Deutsche Bank AG New York Branch and Wells Fargo Bank, N.A., as documentation agents, and the lenders party thereto.

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