Warner Bros. Discovery expanded its leveraged loan package to $10.2 billion through a JPMorgan Chase-led syndicate. This debt facility increased from an initial $6.2 billion.
The media company will use the funds to refinance short-term obligations. This move reduces bridge facilities ahead of a $110 billion merger with Paramount Skydance.
The U.S. dollar portion of the loan rose to $9 billion. The €1 billion tranche remains unchanged.
JPMorgan Chase expects to earn significant syndication and advisory fees from the deal. The bank's stock closed the previous session at $303.00.