Discovery Communications $2.5 Billion Senior Unsecured Revolving Credit Facility and $2 Billion Senior Unsecured Term Loan Facility

Davis Polk is advising the joint lead arranger and joint bookrunner in connection with an amendment to Discovery Communications, LLC’s existing senior unsecured revolving credit facility, which will increase the aggregate commitments thereunder to $2.5 billion, and a new $2 billion senior unsecured term loan facility to be used in connection with Discovery Communications’ acquisition of Scripps Networks Interactive, Inc.

Discovery Communications owns a portfolio of premium nonfiction, lifestyle, sports and kids content brands including Discovery Channel, TLC, Investigation Discovery, Animal Planet, Science and Turbo/Velocity, as well as OWN: Oprah Winfrey Network in the United States, Discovery Kids in Latin America and Eurosport. Available in more than 220 countries and territories, Discovery’s programming reaches three billion cumulative viewers.

The Davis Polk finance team included partner Jason Kyrwood and associate Darren Mahone. Associate Britt Mosman provided regulatory advice. Counsel Ethan R. Goldman provided tax advice. Counsel Charles Shi provided ERISA advice. Counsel David A. Zilberberg provided environmental advice. Members of the Davis Polk team are based in the New York and Washington DC offices.