Welcome

AT&T Spinoff Starts Marketing $41.5 Billion of Merger Loans

May 18, 2021, 10:30 PM

The new entity that will house the merged AT&T Inc. spun-off WarnerMedia division with Discovery Inc.’s reality-TV empire is starting to market a series of loans to help fund the transaction, according to people with knowledge of the matter.

The facilities include a $31.5 billion 364-day bridge loan, which is expected to be refinanced with longer-term bonds prior to maturity, and a $10 billion term loan in two tranches, the people said. The debt will replace the $41.5 billion in financing commitments already received from Goldman Sachs Group Inc. and JPMorgan Chase & Co., the largest bridge this year. ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.