Citigroup, Bank of America, and Apollo Global Management have initiated investor meetings to finance Paramount Skydance Corp.’s $110 billion acquisition of Warner Bros. Discovery.
The debt package consists of $30 billion in investment-grade bonds and $7.5 billion in investment-grade loans. It also includes approximately $12 billion in second-lien bonds.
The financing proceeds following previous delays caused by legal challenges. The strategy employs an unusual combination of high-grade and junk debt to attract a diverse range of investors.
Separately, Citigroup launched a new relationship banking initiative called Citi Premium Boost. This program offers enhanced savings rates for the bank's priority clients.