Banks Kick Off $6.2 Billion Warner Bros. Junk Loan Sale

Wall Street banks kicked off a multi-billion dollar leveraged loan sale Tuesday for Warner Bros. Discovery Inc., with proceeds intended to refinance a temporary credit facility.

The offering is comprised of a $5 billion US dollar loan and a €1 billion ($1.16 billion) loan, according to a person with knowledge of the matter. JPMorgan Chase & Co. is leading the deal, and a lender call is scheduled for Wednesday, the person said, asking not to be identified because they’re not authorized to speak publicly.