Paramount Skydance announced Thursday that it is initiating a syndication to secure $7.5 billion through a proposed senior secured incremental tranche of term B loans. According to the enterprise led by David Ellison, the capital will be put toward its massive $111 billion merger with Warner Bros. Discovery, as well as the reduction of existing debt obligations.

Additional information regarding the timeline and final terms of the debt financing is expected to emerge as the story develops.