Summary
Warner Bros. Discovery, Inc. (WBD), under its former name Discovery Communications, Inc., filed this 8-K on March 7, 2014, to report a material definitive agreement related to a registered offering of senior notes. Specifically, Discovery Communications, LLC (DCL), a subsidiary, completed a public offering of €300 million aggregate principal amount of 2.375% Senior Notes due 2022. These notes are unsecured and guaranteed by Discovery Communications, Inc. The offering was made through an underwritten public offering, and the notes are subject to customary covenants and events of default. Investors should note the maturity date of March 7, 2024, and the annual interest payment schedule. This filing provides transparency on the company's debt financing activities at the time.
Key Highlights
- 1Discovery Communications, LLC (DCL) issued €300 million in 2.375% Senior Notes due 2022.
- 2The offering was a registered public offering underwritten by a syndicate of major financial institutions.
- 3The Notes mature on March 7, 2024.
- 4Interest on the Notes is payable annually on March 7, commencing March 7, 2015.
- 5The Notes are unsecured and rank equally with other unsecured senior indebtedness of DCL.
- 6Discovery Communications, Inc. provided a full and unconditional guarantee for the Notes.
- 7The issuance was governed by an indenture, supplemented by a sixth supplemental indenture.