FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Paramount Skydance's $49 Billion Debt Sale Set to Launch in Coming Weeks

By

Paramount Skydance (PSKY) bankers plan to begin selling $49 billion in debt backing takeover of Warner Bros. Discovery (WBD) in the coming weeks after the company settled a series of lawsuits, Bloomberg reported Tuesday, citing people familiar with the matter.

It is to be noted that Paramount agreed to settle a multistate antitrust lawsuit involving its proposed Warner Bros. deal, several attorneys general said Monday in separate statements.

Bank of America (BAC), Citigroup (C) and Apollo Global Management (APO) arranged the package, which includes $30 billion of investment-grade bonds, $7.5 billion of investment-grade loans and $12 billion of second-lien bonds, according to the report.

The debt carries no interest-rate caps, shifting rate risk to Paramount rather than the underwriting banks, the report said.

Warner Bros., Paramount, Apollo, Bank of America and Citigroup did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $10.20, Change: $+0.29, Percent Change: +2.88%

What else is happening in Treasury?

Treasury

Danone Launches EUR1.5 Billion Triple-tranche Bond Issue

Danone (BN.PA) issued a 1.5 billion-euro bond in three tranches to improve funding flexibility and extend the maturity of its debt, according to a Monday release.The offering includes three tranches of 500 million euros each, with the first 18-month tranche carrying a floating coupon of three-month Euribor + 0.30% and the second and third tranches carrying coupons of 4.0910% and 4.4180% and maturities of five and nine years, respectively.The French food products company expects to settle the offer on Sept. 28. The bonds will be listed on Euronext Paris.

$BN.PA
Treasury

Cham Swiss Properties Places CHF100 Million Bond

Cham Swiss Properties (CHAM.SW) said Monday that it placed a 1.6% fixed-rate bond with a principal amount of 100 million francs and a term of five years.Settlement of the bond is scheduled for Oct. 27. The Swiss real estate company earmarked the proceeds for its development pipeline and the repayment of short-term loans.

$CHAM.SW
Treasury

Bper Banca Issues EUR500 Million Green Bond

Bper Banca (BPE.MI) said Monday that it issued a 4.125% green senior non-preferred bond with a principal amount of 500 million euros and a term of four years.The Italian lender issued the fixed-rate notes at 99.87% of the principal amount following oversubscription, with total orders above 1.9 billion euros.Proceeds from the issuance will be used for eligible green assets in line with the green, social and sustainability bond framework of the group.

$BPE.MI