Paul Hastings Advises Lead Arrangers on Largest-Ever Term Loan B Financing

Paul Hastings LLP advised the lead arrangers in connection with a $15 billion equivalent Term Loan B, comprising $13 billion and €1.717 billion tranches, for a subsidiary of Warner Bros. Discovery for purposes of refinancing its existing $15 billion bridge facility. Not only is this landmark transaction the largest-ever Term Loan B, it is also the largest cross-border Term Loan B financing in history.

Global Finance partners Corey Wright and Lisa Collier led the Paul Hastings team, which also included associates Celia Scherman, Erin Gormley and Declan Considine.

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