Disney enters $5 billion credit agreement
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FRIDAY, JANUARY 27, 2023
Disney enters $5 billion credit agreement

Global Economy

Reuters
14 April, 2020, 10:05 am
Last modified: 14 April, 2020, 10:13 am

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Disney enters $5 billion credit agreement

Disney’s theme parks business has taken a particularly severe hit as lockdowns have restricted people’s movement and gatherings in order to curb the spread of COVID-19

Reuters
14 April, 2020, 10:05 am
Last modified: 14 April, 2020, 10:13 am
The Disneyland logo of Dow Jones Industrial Average stock market index listed Disney is shown near the entrance to Disneyland in Anaheim, California April 13, 2016. Photo : Reuters
The Disneyland logo of Dow Jones Industrial Average stock market index listed Disney is shown near the entrance to Disneyland in Anaheim, California April 13, 2016. Photo : Reuters

Walt Disney Co said on Monday it has entered an unsecured credit agreement for $5 billion, at a time when companies across industries are scrambling to bolster their liquidity to weather the fallout from the coronavirus crisis.

Disney's theme parks business has taken a particularly severe hit as lockdowns have restricted people's movement and gatherings in order to curb the spread of COVID-19.

The company said in a filing the credit agreement, which has terms similar to another one it entered on March 6, will mature on April 9, 2021, adding that the fund could be used for day to day operations.

The agreement can be extended for another year at the time of maturity if the lenders agree, it said.

Citibank NA served as the designated agent for the agreement, Walt Disney said.

Coronavirus chronicle / World+Biz / Top News

Disney / Coronavirus / COVID-19

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