Staff Writer 
Netflix has lined up more debt from Wall Street banks to help finance its amended, all-cash agreement to buy Warner Bros Discovery’s studio and streaming business.
The company now has $42.2 billion of bridge loans in place, according to a filing Tuesday, a type of facility that is usually replaced with permanent debt like corporate bonds.
Netflix, which previously agreed to pay $27.75 a share in cash and stock for the Warner assets, has now agreed to pay the full amount in cash. Rival bidder Paramount Skydance Corp has launched an all-cash $30-a-share tender offer for all of Warner Bros.
Netflix initially lined up $59 billion of financing from a group of banks to help support its acquisition, including one of the largest-ever bridge loans. It subsequently refinanced some of that with longer-term debt, leaving about $34 billion to be syndicated before this week’s increase.
With the amended agreement, Wells Fargo & Co is providing $4.1 billion of incremental bridge loans, followed by BNP Paribas SA at $2.87 billion and HSBC Holdings Plc at $1.23 billion, according to the filing.
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