Latham Represents Paramount Skydance in US$8.5 Billion and €850 Million Term Loan B Facility Pricing

Paramount Skydance Corporation (Nasdaq: PSKY) has announced that it has priced a senior secured incremental tranche of term "B" loans consisting of (a) a US$8.5 billion US dollar-denominated tranche and (b) a €850 million euro-denominated tranche. The company intends to utilize the net proceeds of the term B loans to finance, in part, the purchase price for its previously announced acquisition of Warner Bros. Discovery, Inc. (Nasdaq: WBD) (WBD) and the repayment of certain existing debt. The financing is the largest M&A Term Loan B of the last decade, according to CreditSights. The closing of the incremental term B facility is subject to customary closing conditions.

Latham & Watkins LLP represents Paramount Skydance in the financing with a team led by partners Joshua Tinkelman and Emily Johnson, with associates Chen Tang, Young Joo, Jenny Lyubomudrova, Kerry Pemberton, Nick Massoni, and Paul Tran, with assistance from Lilian Law.