Netflix refinances part of $59 billion Warner Bros. bid loan

Netflix refinanced part of a $59 billion bridge loan to support its potential acquisition of Warner Bros. Discovery by securing a $5 billion revolving credit facility and two $10 billion delayed-draw term loans. Netflix plans to syndicate the remaining $34 billion of the facility, which was originally underwritten by banks including Wells Fargo, BNP Paribas, and HSBC. The financing activity proceeds as Warner Bros. advised shareholders to reject a rival hostile takeover bid from Paramount Skydance that it deemed “inferior and inadequate”.