Discovery is raising $1.5 billion in new debt through a public offering, in part to repay or refinance other debt, according to a SEC filing made public Thursday.
The new debt raise includes $640 million in senior notes at 4.375 percent interest, due 2021, another $496 million in senior notes at 3.3 percent interest and due 2022, and $345 million in senior notes at 3.5 percent interest, and due 2022.
Discovery said the proceeds from the public offer would be used for general corporate purposes, including the repayment and refinancing of other debt.
The new bond offering comes as Discovery faces a TV ad downturn as brands cut their spending during the coronavirus outbreak.
Read more on hollywoodreporter.com
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