Banks Are Selling Pieces of $57.5 Billion Warner Bros. LBO Loan

Bank of America Corp. and Citigroup Inc. have started selling chunks of a $57.5 billion bridge loan backing Paramount Skydance Corp.’s takeover of Warner Bros. Discovery Inc., in a syndication that could wrap up by the end of next week.

The two banks, along with Apollo Global Management Inc., agreed to provide one of the biggest ever bridge financings, for the buyout that was announced last month after a protracted bidding war. Bank of America and Citigroup are now seeking additional lenders to help syndicate the three firms’ combined exposure, according to people with knowledge of the matter.