Netflix Mega Debt Deal Still Left M&A-Starved Banks Wanting More

Banks were so eager to get a piece of the jumbo debt package backing Netflix Inc.’s bid for Warner Bros. Discovery Inc. that some have been left with a smaller slice of the deal than they wanted.

Underwriters started selling an extra $8.2 billion of short-term loans on Tuesday after Netflix amended its bid to pay entirely with cash, bringing the total financing to $67.2 billion. Demand has been so high throughout the process that some lenders had to accept less than what they put in orders for, according to people involved with the deal, who asked not to ...