Netflix refinances part of $59 billion loan with cheaper, long-term debt as it seeks to acquire Warner Bros

Streaming giant Netflix Inc has refinanced a portion of its $59 billion bridge loan with cheaper, long-term debt, strengthening the financial support for its bid to acquire Warner Bros. Discovery Inc, according to a report by Bloomberg.

Netflix secured a $5 billion revolving credit line and two $10 billion delayed-draw term loans to refinance part of the bridge facility used for its Warner Bros. bid, as per a Monday filing. This leaves $34 billion available for syndication, the report said.