Business
Warner Bros. Discovery Announces Commencement of Cash Tender Offer for an Aggregate Tender Cap of up to $1,750,000,000 for
3.900% Senior Notes due 2024 issued by Discovery Communications, LLC3.900% Senior Notes due 2024 issued by Scripps Networks Interactive, Inc.4.000% Senior
About this update from Warner Bros. Discovery, Inc. - Series A
[{"type":"text","content":"3.900% Senior Notes due 2024 issued by Discovery Communications, LLC3.900% Senior Notes due 2024 issued by Scripps Networks Interactive, Inc.4.000% Senior Notes due 2055 issued by Discovery Communications, LLC 4.650% Senior Notes due 2050 issued by Discovery Communications, LLC4.950% Senior Notes due 2042 issued by Discovery Communications, LLC4.875% Senior Notes due 2043 issued by Discovery Communications, LLC5.200% Senior Notes due 2047 issued by Discovery Communications, LLC5.300% Senior Notes due 2049 issued by Discovery Communications, LLC4.650% Global Notes due 2044 issued by Warner Media, LLC4.850% Global Notes due 2045 issued by Warner Media, LLC4.900% Global Notes due 2042 issued by Warner Media, LLC5.350% Global Notes due 2043 issued by Warner Media, LLC5.050% Senior Notes due 2042 issued by WarnerMedia Holdings, Inc.\nNEW YORK, May 9, 2024 /PRNewswire/ -- Warner Bros. Discovery, Inc. (\"Warner Bros. Discovery\" or the \"Company\") today announced that, in connection with the Company's previously announced plan to reduce debt, its wholly-owned subsidiaries, Warner Media, LLC, Discovery Communications, LLC and WarnerMedia Holdings, Inc. (each, an \"Issuer\" and together, the \"Issuers\"), have commenced a cash tender offer (the \"Tender Offer\") to purchase up to $1,750,000,000 aggregate purchase price (excluding accrued and unpaid interest, the \"Aggregate Tender Cap\") of the outstanding notes described in the table below (together, the \"Notes\"), for the consideration and in the order of priority listed in the table below. Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase, dated May 9, 2024 (the \"Offer to Purchase\").\n\nIssuer\nTitle of Security\nAggregate Principal Amount Outstanding\nCUSIP\nAcceptance Priority Level (1)\nReference U.S. Treasury Security\nBloomberg Reference Page/ Screen(2)\nFixed Spread (basis points) (3)\nDiscovery Communications, LLC\n3.900% Senior Notes due 2024\n$483,810,000\n25470DBC2\n1\n2.25% due November 15, 2024\nFIT3\n+25\nScripps Networks Interactive, Inc.\n3.900% Senior Notes due 2024\n$11,920,000\n811065AC5\n1\n2.25% due November 15, 2024\nFIT3\n+25\nDiscovery Communications, LLC\n4.000% Senior Notes due 2055\n$1,643,454,000\n25470DBL2\n25470DBK4\nU25478AH8\n2\n4.25% due February 15, 2054\nFIT1\n+195\nDiscovery Comm...