Netflix Signs Multiple Financing Agreements

Netflix signed two major unsecured financing agreements to support its pending acquisition of Warner Bros. Discovery and enhance liquidity. The company established a $5.0 billion revolving credit facility and a $20.0 billion delayed draw term loan structure split between two-year and three-year tranches. Both agreements allow Netflix to fund the merger cash portion, pay related fees, refinance certain indebtedness, and support general corporate purposes, while reducing reliance on previously arranged bridge financing. Wells Fargo Bank serves as administrative agent for both facilities alongside a syndicate of lenders.Agreement 1: Netflix Signs Senior Unsecured Revolving Credit Agreement With Wells Fargo Bank and LendersAgreement type: Unsecured revolving credit facility ($5.0B)Counterparty: Wells Fargo Bank, as Administrative Agent, and other lendersSigned / Effective: Dec 19 2025 / sameDuration / Termination: Up to Dec 19 2030; two 1-year extensionsReason: Fund WBD merger, refinance debt, and general corporate needsAgreement 2: Netflix Signs Delayed Draw Term Loan Credit Agreement With Wells Fargo Bank and LendersAgreement type: Unsecured delayed draw term loan facilities ($10B two-year and $10B three-year)Counterparty: Wells Fargo Bank, as Administrative Agent, and other lendersSigned / Effective: Dec 19 2025 / sameDuration / Termination: 2 years and 3 yearsReason: Finance WBD merger and optimize long-term fundingOriginal SEC Filing: NETFLIX INC [ NFLX ] - 8-K - Dec. 22, 2025DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.