WBD subsidiary enters $17B bridge loan to fund tender offers, spinoff of Streaming & Studios

Warner Bros. Discovery, Inc.

WarnerMedia Holdings signed $17.0B bridge loan on June 26, 2025, drawn June 30.
Interest at SOFR + 3.00%-4.00% per annum depending on period.
Loan matures in 18 months or upon completion of Separation Transaction (spinoff of Streaming & Studios).
Proceeds to settle tender offers, repay 364-day term loan, pay fees, general corporate purposes.
RCF amended to $4B with alignment to bridge loan covenants; secured by substantially all personal property.

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