Citigroup sets up Paramount loan calls as banks ready debt sale - Bloomberg
Citigroup will start meetings with loan investors for Paramount Skydance Corp. to fund its takeover of Warner Bros. Discovery. The $110 billion deal includes $30 billion in investment-grade bonds, $7.5 billion in loans, and $12 billion in second-lien bonds. The takeover was delayed by lawsuits but is now cleared to close. Citigroup, Bank of America, and Apollo Global Management underwrote the debt package.
How this was made
The 30-second read
Why it matters
The upcoming loan calls signal the next step in financing the deal, potentially adding fees and exposure for the banks involved.
Market read
The news may influence Citigroup's stock and the broader investment banking sector as large‑scale debt financing proceeds.
What to watch
Regulatory scrutiny of large media takeovers could affect the deal's finalization.
Background
Citigroup, Bank of America and Apollo previously underwrote the Paramount Skydance debt package for its $110B acquisition of Warner Bros. Discovery.
Ticker impact
Citigroup is initiating loan investor meetings for the Paramount Skydance debt package, indicating upcoming debt sales.
Modest upside for C as the debt sale proceeds could boost earnings.
The large $30B bond and $7.5B loan issuance is a significant new development for Citigroup's investment banking franchise.
Market effects
Highlights continued M&A financing activity in media sector.
U.S. investment banking market sees new large‑scale debt issuance.
Shows cross‑border euro investor interest in U.S. leveraged buyout financing.
Counterpoint
If the debt market softens, the loan sale could be delayed, weighing on C's short‑term earnings.
Key entities
- CompanyCitigroup Inc.
Lead underwriter organizing loan investor meetings.
- CompanyParamount Skydance Corp.
Target of the debt financing for its Warner Bros. Discovery acquisition.



