Skydance settles cash tender offers for $2.4 billion of WBD notes after acquisition closes
SKYD•Skydance completed cash tender offers for $2.4 billion of WBD notes, with about 98.83% of eligible principal tendered and settlement expected Oct. 9. Separate exchange offers drew about 99.15% participation, with holders to receive par in new SKYD notes.
1. Tender offer results
Skydance completed cash tender offers for WBD Issuers’ senior notes tied to its Warner Bros. Discovery acquisition. About 98.83% of eligible principal was tendered, and settlement was expected Oct. 9.
2. Tender consideration
Holders received $997.93 per $1,000 principal amount for 3.755% Senior Notes due 2027 and $989.45 per $1,000 for 3.950% Senior Notes due 2028. Separate exchange offers drew about 99.15% participation; holders receive par in new SKYD notes, including senior secured second lien issues due 2029, 2032 and 2042.
