Skydance Enters $51.9 Billion Financing Package for WBD Acquisition

Skydance Corporation entered into new secured financing totaling $51.9 billion, consisting of $9.5 billion in seven-year term loans, $30.0 billion of first-lien secured notes and $12.4 billion of second-lien secured notes, with Citibank serving as administrative agent and Deutsche Bank Trust Company Americas as trustee. The financing helped fund the Warner Bros. Discovery acquisition and refinance existing debt, but materially increases Skydance’s leverage and interest obligations; the company also raised about $47 billion through a PIPE issuing roughly 3.9 billion Class B shares at $12 per share.