Summary
This Form 8-K filing by Discovery Communications, Inc. (now Warner Bros. Discovery, Inc.) on March 13, 2017, primarily concerns the completion of a registered offering of new senior notes. Discovery Communications, LLC (DCL), a subsidiary, issued $450 million in 3.800% Senior Notes due 2024 and $200 million in additional 4.900% Senior Notes due 2026. This offering was made under an existing shelf registration statement and involved several major underwriters.
Key Highlights
- 1Discovery Communications, LLC completed a registered offering of $450 million in 3.800% Senior Notes due 2024.
- 2An additional $200 million in 4.900% Senior Notes due 2026 were issued via a reopening.
- 3The total aggregate principal amount of the new debt offering is $650 million.
- 4The Notes are unsecured and rank equally with DCL's other unsecured senior indebtedness.
- 5The Notes are fully and unconditionally guaranteed on an unsecured and unsubordinated basis by Discovery Communications, Inc.
- 6Redemption options for both the 2024 and 2026 Notes are detailed, including make-whole provisions and future redemption prices.
- 7The offering was conducted through an underwritten public offering under a shelf registration statement.