Paramount's $52 Billion Debt Sale Shows How Higher Rates Are Biting Corporate America
Paramount completed a $52 billion debt sale, the largest ever by a public company, to secure a financing package for its Warner Bros. Discovery deal by a Sept. 30 deadline. The sale illustrates the pressure corporate America faces due to higher interest rates.
Paramount needed to line up a large financing package for its Warner Bros. Discovery deal, as the clock ran down on a Sept. 30 deadline to close the acquisition without penalty. It completed a $52 billion debt sale on Wednesday, the largest ever by a public company in a sin…