Paramount Global has extended the deadline for its $1.55 billion debt tender and exchange offers to August 28, the company said on Friday.
The extension follows strong investor demand for the offers, which were initially set to expire on August 21. Paramount did not disclose the amount of debt tendered or exchanged as of the original deadline.
The offers involve Paramount’s outstanding 5.75% senior notes due 2026 and 6.375% senior notes due 2028, as well as its 5.625% senior notes due 2029. The company said the extension provides additional time for holders to consider the terms.
Paramount’s debt restructuring efforts aim to reduce leverage and extend maturities amid ongoing financial pressures. The media conglomerate has faced challenges from declining linear TV revenue and increased competition in streaming services.
The tender and exchange offers are part of a broader strategy to optimize Paramount’s capital structure. Investors holding the targeted notes may submit tenders or exchange their debt for new securities under revised terms.
Paramount did not specify whether further extensions would be considered.
