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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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Hong Kong Disneyland Resort
(7 articles found)

Disney to introduce first major Marvel attraction at Hong Kong Disneyland in 2016 read more

When The Walt Disney Company acquired Marvel Entertainment in 2009, its intention was to strengthen its position as a leading global provider...

NEW | Hong Kong Disneyland Resort - Published on October 13, 2013

Disney's theme parks and resorts sign strong financial results with revenues up 7% in Q3 2013 read more

The theme parks and resorts of The Walt Disney Company (TWDC) have once again achieved excellent financial performance in the third quarter of...

CORPORATE | Hong Kong Disneyland Resort - Published on August 11, 2013

Growing quarterly results for theme parks and resorts of The Walt Disney Company read more

The Walt Disney Company (TWDC) published earlier this month its financial results for the first quarter of fiscal year 2013 ended December 31,...

CORPORATE | Hong Kong Disneyland Resort - Published on February 17, 2013

Disney reports revenue of theme parks and resorts up 10% to $12.9 billion for FY 2012 read more

The Walt Disney Company reported that the revenue of its business segment of theme parks and resorts increased 10% to $12.9 billion (approx €9.97 b...

CORPORATE | Hong Kong Disneyland Resort - Published on November 29, 2012

Increase in profits for the theme parks and resorts of The Walt Disney Company in first half 2012 read more

TWDC announced earlier this week the earnings for its second fiscal quarter and six months ended March 31, 2012. The Group reported global revenues...

CORPORATE | Hong Kong Disneyland Resort - Published on May 11, 2012

The Walt Disney Company's Parks and Resorts revenues increased 10% for Q1 of FY12 read more

The Walt Disney Company reported yesterday earnings for its first fiscal quarter ended December 31, 2011. Diluted earnings per share (EPS) ...

CORPORATE | Hong Kong Disneyland Resort - Published on February 8, 2012

Fright tactics cranked up at Ocean Park read more

Ocean Park has some hair-raising figures - and they're meant to frighten Disneyland. It says its visitor numbers shot up 20 percent to 6.5 million between October 1 last year and September 30. It used that time frame - ...

PRESS REVIEW | Hong Kong Disneyland Resort - Published on October 3, 2011

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Hydro (Oakwood Theme Park) Gyrotour (Futuroscope) Blue Fire (Europa-Park) Sledge Hammer (Bobbejaanland) Stunt Fall (Parque Warner Madrid) Toy Story Mission Parachute (Walt Disney Studios) Troy (Toverland) Star Flyers (Plopsaland) Uppswinget (Liseberg) Lynet (Farup Sommerland) Grande Roue (Walibi Belgium) Cobra (Paultons Family Theme Park) G-force (Walibi Holland) Stealth (Thorpe Park) El Volador (Bellewaerde Park) Katun (Mirabilandia) Hurakan Condor (Port Aventura)