Paramount Skydance settles cash tender offers for WBD notes, with 98.83% tendered
SKYD•Paramount Skydance said holders tendered about 98.83% of eligible WBD notes in cash offers, with settlement expected Oct. 9. Separate exchange offers drew about 99.15% participation as Skydance completed its acquisition of Warner Bros. Discovery.
1. Tender offer details
Paramount Skydance priced cash tender offers for WBD issuers’ senior notes due in 2027 and 2028, with consideration tied to Treasury yields. The offers set consideration at $997.93 per $1,000 of 2027 notes and $989.45 per $1,000 of 2028 notes; settlement was expected Oct. 9. Separate exchange offers drew about 99.15% participation, with existing notes exchanged for new SKYD second-lien notes across multiple maturities. The transactions ran alongside Skydance’s acquisition of Warner Bros. Discovery, which was completed that day.
