WBD · 8-K · 20260806PR000072

Interest Rate and Refinancing Exposure

Warner Bros. Discovery, Inc. · 2026-08-06 · Importance 64 · Surprise 42

During the second quarter, Warner Bros. Discovery repaid its $15 billion bridge loan facility using a $13 billion Term Loan B and a €1.7 billion Term Loan B. As of June 30, 2026, gross debt was $33.1 billion, net debt was $29.7 billion, and net leverage was 3.4x. Outstanding debt had a weighted average maturity of 8.3 years and a weighted average cost of 5.2%, while the company’s $4.0 billion revolving credit facility was undrawn.

Key facts

• Company repaid in full a $15 billion bridge loan during Q2 by replacing it with a $13 billion Term Loan B and a €1.7 billion Term Loan B. source
• As of June 30, 2026 the weighted average maturity of outstanding debt was 8.3 years with a weighted average cost of 5.2%. source