- Paramount Skydance has launched syndication of a $7.5B incremental Term B facility.
- The company intends to raise approximately $44.4B of additional secured debt to fund its acquisition of Warner Bros. Discovery.
- Fitch has assigned an expected 'BBB-(EXP)' rating with 'RR1' recovery to the first-lien USD and EUR term loans.
- Fitch affirmed PSKY's Long-Term IDR at 'BB+' and Short-Term IDR at 'B', both on Rating Watch Negative.
- The Rating Watch Negative reflects expected deterioration in credit metrics at closing of the WBD deal, with leverage in the 7x range (pre-synergies).
- PSKY has identified over $6B in merger-related cost synergies achievable by fiscal 2030.
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