Paramount Skydance issues investment-grade bonds to raise $30 billion for the acquisition of Warner Bros. Discovery.

Paramount Skydance sold $30 billion of dollar-denominated investment-grade bonds, completing the largest portion of the financing for its acquisition of Warner Bros. Discovery. According to a person familiar with the matter, the US media giant's eight-part bond offering ultimately priced at spreads below initially discussed levels. The longest-dated tranche, maturing in 2066, saw its yield premium over US Treasuries narrow by about 0.35 percentage points to 3.3 percentage points above the benchmark. One of the people familiar said the company is also issuing three tranches of dollar-denominated junk bonds totaling $11.4 billion, the largest being a $6 billion five-year note, in addition to an 885 million five-year euro bond.