Netflix Secures Up to $59 Billion Bridge Loan Commitment for Acquisition Deal
Deep News12-05 22:02
Netflix has obtained a senior unsecured bridge financing commitment of up to $59 billion from a syndicate of banks to fund the cash portion of its acquisition of Warner Bros. Discovery.
The lending consortium includes Wells Fargo, BNP Paribas, and HSBC.
Key terms of the agreement stipulate that:
- Warner Bros. Discovery must pay Netflix $2.8 billion if it enters into or completes a qualifying alternative transaction.
- Netflix is required to pay Warner Bros. Discovery $5.8 billion if it decides to terminate the merger.
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