secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2026-06-04T12:38:59+00:00
Accession:  0001193125-26-256559
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Warner Bros. Discovery enters $14.7B first-lien credit agreement to repay bridge loan
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- Discovery Global Holdings borrowed $13B USD and €1.717B euro term loans on June 4, 2026.
- Proceeds, plus cash, used to repay in full $15B bridge loan from June 2025.
- USD term loans: SOFR+2.50% or Base+1.50%; euro term loans: EURIBOR+2.50%; mature June 4, 2033.
- Obligations secured by substantially all assets of WBD, DGH, and certain domestic subsidiaries.
- No financial maintenance covenant; change of control (including proposed Paramount Skydance acquisition) may trigger acceleration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000119312526256559/0001193125-26-256559-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000119312526256559/d11897d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-256559

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer