Short answer
Warner Bros. Discovery (WBD) filed an 8-K current report with the SEC on June 4, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation). $14.7B equivalent 7-year term financing refinances $15.0B bridge loan, extending maturity to June 4, 2033.
Warner Bros. Discovery 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $14.7B equivalent 7-year term financing refinances $15.0B bridge loan, extending maturity to June 4, 2033
- Dollar tranche $13.0B at Term SOFR plus 2.50%; euro tranche €1.717B at EURIBOR plus 2.50%
- Dollar loans amortize 1.00% annually, payable quarterly, creating scheduled cash obligations
- First-lien collateral and guarantees rank pari passu with WBD’s existing revolving facility
- Paramount Skydance acquisition could trigger change-of-control acceleration, making all outstanding loans immediately due
Item 2.03 · Creation of a Direct Financial Obligation
- New First Lien Credit Agreement executed June 4, 2026
- Secured financing involving WBD, Discovery Global Holdings, subsidiary borrowers, and participating lenders
- JPMorgan Chase designated U.S. administrative and collateral agent
- J.P. Morgan SE designated non-U.S. administrative agent
- Debt amount, pricing, maturity, and permitted uses require review of omitted Exhibit 10.1 terms
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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