{"id":8089719,"date":"2026-10-02T12:12:00","date_gmt":"2026-10-02T19:12:00","guid":{"rendered":"https:\/\/www.thewrap.com\/?p=8089719"},"modified":"2026-10-02T13:24:04","modified_gmt":"2026-10-02T20:24:04","slug":"paramount-warner-bros-merger-52-billion-debt-sale-completed","status":"publish","type":"post","link":"https:\/\/www.thewrap.com\/industry-news\/business\/paramount-warner-bros-merger-52-billion-debt-sale-completed\/","title":{"rendered":"Paramount-Warner Bros. Merger: Wall Street Banks Wrap Up $52 Billion Debt Sale"},"content":{"rendered":"\n\n\n

Wall Street banks have wrapped up a roughly $52 billion debt sale to help fund the $110 billion Paramount-Warner Bros. Discovery merger, according to Bloomberg<\/a>.<\/p>\n\n\n\n

Apollo Global Management Inc., Bank of America and Citigroup provided the initial debt financing for the acquisition. Per the outlet, they sold approximately $30 billion in investment-grade debt, $12.4 billion in junk bonds and $9.46 billion in loans in just a week. <\/p>\n\n\n\n

The update comes after Bloomberg reported<\/a> that investors faced more than $100 million in paper losses after the combined company’s bonds started trading on Thursday, which led to the banks facing a flood of angry complaints from money managers. <\/p>\n\n\n\n

Skydance Chief Financial Officer Dennis Cinelli dismissed the selloff as “one-day choppiness in the market,” telling Bloomberg it entered “not for a one-day trade, but to execute a transformative transaction to create a next-generation entertainment and technology company.” Citigroup’s Leon Kalvaria, chairman of the institutional clients group, added that the financing “turned out incredibly well in a choppy market.”<\/p>\n\n\n\n

Representatives for, Bank of America, Apollo and Citigroup declined to comment, while Skydance did not immediately return TheWrap’s request for comment.<\/p>\n\n\n

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\n\t\t\n\t\t\t\t\t\t\t\"David\t\t\t\t\t<\/a>\n\t\t
\n\t\t\tRead Next<\/strong>
\n\t\t\tParamount to Raise $7.5 Billion in Debt to Help Fund Warner Bros. Discovery Merger<\/a>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

The debt sale comes as the merger is slated to close on Oct. 6, with the combined company expected to carry around $80 billion in debt.<\/p>\n\n\n\n

The combined company, which has been named Skydance, will begin trading on the NYSE on Oct. 6 under the ticker symbol SKYD. The company will distribute warrants to purchase shares on Oct. 13.<\/p>\n\n\n\n

While the deal isn\u2019t officially closed, David Ellison has already started shaking up the combined company\u2019s leadership team, tapping HBO CEO Casey Bloys to run Paramount+ and HBO Max, with Paramount Streaming head Cindy Holland exiting on Tuesday<\/a>. The company also recruited Mattel CEO Ynon Kreiz to serve as co-CEO of the combined company. <\/p>\n\n\n

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\n\t\t\n\t\t\t\t\t\t\t\"The\t\t\t\t\t<\/a>\n\t\t
\n\t\t\tRead Next<\/strong>
\n\t\t\tParamount Pushes $44 Billion Debt Offering to Finance Warner Bros. Acquisition<\/a>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The move comes as the $110 billion Skydance deal is slated to close next week<\/p>\n","protected":false},"author":10131,"featured_media":8002460,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"byline":{"profiles":[{"type":"byline_id","atts":{"term_id":504716,"post_id":7303318}}]},"_links_to":"","_links_to_type":0,"nb_breaking_email_type":"","nb_breaking_template":"","nb_breaking_from_name":"TheWrap","nb_breaking_subject":"","nb_breaking_preview":"","nb_breaking_list":[],"nb_breaking_header_img":0,"nb_breaking_should_send":false,"nb_breaking_content":"","nb_newsletter_sent_breaking_post_id":[],"apple_news_api_created_at":"2026-10-02T19:19:33Z","apple_news_api_id":"44797203-f77a-4ecf-8242-2946a8516010","apple_news_api_modified_at":"2026-10-02T20:24:03Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAA==","apple_news_api_share_url":"https:\/\/apple.news\/ARHlyA_d6Ts-CQilGqFFgEA","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"hide_featured_image":false,"the_wrap_post_enable_full_width_featured_image":false,"the_wrap_post_enable_featured_video":false,"the_wrap_post_featured_video":"","the_wrap_post_disable_read_more":false,"wp_curate_deduplication":false,"wp_curate_unique_pinned_posts":false,"footnotes":""},"categories":[279383,514407,514410,514411,411758,13950],"tags":[663,281725,106,15479,493697],"tw_data_partners":[],"columns":[],"byline":[504716],"class_list":["post-8089719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-deals-ma","category-distribution","category-film-studios","category-streaming","category-tv","tag-debt","tag-mergers-and-acquisitions","tag-paramount","tag-skydance","tag-warner-bros-discovery"],"newsletter_builder_byline":"Lucas Manfredi","is_pro_article":false,"apple_news_notices":[],"eyebrow":{"link":"https:\/\/www.thewrap.com\/industry-news\/business\/","text":"Business"},"tw_schema_org_review":{"name":"","type":""},"_links":{"self":[{"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/posts\/8089719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/users\/10131"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/comments?post=8089719"}],"version-history":[{"count":23,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/posts\/8089719\/revisions"}],"predecessor-version":[{"id":8089949,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/posts\/8089719\/revisions\/8089949"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/media\/8002460"}],"wp:attachment":[{"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/media?parent=8089719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/categories?post=8089719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/tags?post=8089719"},{"taxonomy":"tw_data_partners","embeddable":true,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/tw_data_partners?post=8089719"},{"taxonomy":"tw_column","embeddable":true,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/columns?post=8089719"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/www.thewrap.com\/wp-json\/wp\/v2\/byline?post=8089719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}