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The Walt Disney Company to refinance the debt of

Euro Disney S.C.A. for €1.32 billion

Update : 19/09/12 - 08h56 Published by François Mayné the 18 September 2012, Corporate.

Euro Disney S.C.A., the parent company of Euro Disney Associés S.C.A., operator of Disneyland® Paris, announces the refinancing Euro Disney group’s debt (excluding debt already extended by The Walt Disney Company) with new financing provided by The Walt Disney Company and two of its French subsidiaries, for an overall amount of 1.33 billion euros (approx $1.7 billion).

The workers’ council has been consulted on the transaction and has rendered a favourable opinion thereon. In addition, the consent of all the creditors, necessary to implement the transaction, has been obtained. The Supervisory Board of Euro Disney Associés S.C.A. met today and approved the transaction.

With this refinancing, the Group's average interest rate on its debt decreases meaningfully and the Group benefits from greater operational flexibility by removing the restrictive covenants under existing debt agreements, notably those related to restrictions on capital expenditures. Moreover, the extended maturity of the total debt to 2030 together with a more gradual debt repayment schedule will better position the Group to invest in long-term growth and drive value for all shareholders. The transaction is expected to close on 27 September 2012.

The Walt Disney Company to refinance the debt of Euro Disney S.C.A. for €1.32 billion

« This refinancing will enable us to reduce our financing costs and give us greater investment and operational flexibility. This is a key step in the development of our Resort that we pursue for the benefit for all of our stakeholders. I strongly believe this will be highly beneficial to the Company, its cast members and shareholders.», declared Philippe Gas, Chief Executive Officer of Euro Disney S.A.S.

Philippe Gas added: « The Walt Disney Company, with this transaction, reaffirms its continued confidence in Disneyland® Paris which has successfully become, over the past 20 years, the number one tourist destination in Europe, a growth driver of French tourism and an important ambassador of the Disney brand across Europe ».

The Walt Disney Company - Disneyland Paris - - -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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Parc Walt Disney Studios
(8 articles found)

A gloomy third quarter for the theme parks of Euro Disney S.C.A. with attendance down 7% read more

The delicate operational situation of Euro Disney S.C.A. in the first half of its fiscal year 2012-2013 did not improve in the third quarter...

CORPORATE | Parc Walt Disney Studios - Published on September 9, 2013

Euro Disney S.C.A.'s interim results show a slight deficit improvement compared to prior fiscal year read more

Euro Disney S.C.A., the operator of Disneyland Paris in France, reported it has reduced its net loss by 10% in the first half of the fiscal year...

CORPORATE | Parc Walt Disney Studios - Published on July 16, 2013

Disneyland Paris confirms Ratatouille dark ride to open at the Walt Disney Studios Park in 2014 read more

It is at the occasion of the annual general shareholders meeting of Euro Disney S.C.A., operator company of Disneyland Paris, that the Chairman...

PROJECT | Parc Walt Disney Studios - Published on March 5, 2013

Decrease in attendance and sales for the theme parks of Euro Disney S.C.A. in the first quarter read more

Euro Disney SCA, operator company of Disneyland Paris, announced today that it has achieved a revenue of €327 million (approx $442 million) i...

CORPORATE | Parc Walt Disney Studios - Published on February 5, 2013

Disneyland Paris CEO Philippe Gas unveils plans for future projects read more

The Chief Executive Officer of Euro Disney S.C.A., Philippe Gas, made a couple of announcements recently in the French weekly news magazine L'Express....

PROJECT | Parc Walt Disney Studios - Published on April 16, 2012

Disneyland Paris : 20-years of positive economic and social impact for the French state read more

A twenty-year study of the Disneyland Paris economic and social impact confirms its long-term contribution to developing the French economy ...

CORPORATE | Parc Walt Disney Studios - Published on March 20, 2012

Euro Disney obtains an additional standby revolving credit facility to increase its investments read more

Euro Disney S.C.A., parent company of Euro Disney Associés S.C.A and operator of Disneyland Paris (together the "Group"), announces that, on...

CORPORATE | Parc Walt Disney Studios - Published on January 10, 2012

Disneyland Paris confirms a third edition of Terrorific Night read more

Disneyland Paris has confirmed that the Terrorific Night will again be held this year in the Walt Disney Studios Park as part of the Halloween...

ENTERTAINMENT | Parc Walt Disney Studios - Published on July 13, 2011