WarnerMedia Parent AT&T Raising More Than $3 Billion In Debt Sale

deadline.com:

By Jill Goldsmith WarnerMedia parent AT&T is raising €3 billion (about $3.28 billion) in a note sale and will use the cash for general corporate purposes, which may include debt repayments.

It announced the sale of three tranches of notes (or bonds) for respectively, €1.75 billion, €750 million and €500 milllion, in an SEC filing.

AT&T and other media and entertainment companies have been raising cash amidst an uncertain business climate. In April, it announced that it had set up a new $5.5 billion loan agreement at competitive rates with 12 banks to provide it with additional financial flexibility.

The loans are pre-payable without penalty, it said, as it seeks to reassure the markets and employees it’s on solid ground in uncertain