secwatch.observer — SEC 8-K summary
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Issuer:     Paramount Skydance Corp (PSKY)
CIK:        0002041610
Form:       8-K
Filed at:   2026-05-19T21:23:45+00:00
Accession:  0001104659-26-063952
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paramount Skydance launches $2.4B cash tender & $12.8B exchange offers for WBD notes
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- Commenced Tender Offers for up to $2.4B of WBD notes for cash and Exchange Offers for up to $12.8B of WBD notes for new PSKY notes.
- Offers conditioned on closing of Paramount's acquisition of WBD and receipt of consents for indenture amendments.
- Plans to issue $39.5B first-lien and $12.4B second-lien secured debt to replace bridge commitments; targets net debt/EBITDA below 3.75x by FY2028 and 3.0x by FY2029.
- Expects ~30% of over $6B synergies within first year post-close, ~70% by second year, full run-rate by third year.
- Provided unaudited pro forma condensed combined financial statements reflecting the acquisition and related transactions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926063952/0001104659-26-063952-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926063952/tm2610616d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-063952

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