NewsParcs is an online trade publication dedicated to theme park industry professionals worldwide.
Since 1998, we work in direct contact with manufacturers, suppliers, consultants, owners and operators to publish only reliable and relevant information.
NewsParcs will do a full coverage of the IAAPA Attractions Expo 2013 in Orlando to have a look at the latest trends and developments of the global theme park industry.
Follow us on Twitter (@NewsParcs) from November 19 to 22 with the hashtag #IAAPA
Euro Disney obtains an additional standby revolving
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 January 6, 2012, it has obtained an additional standby revolving credit facility of € 150 million (about 192 million USD) from The Walt Disney Company.
This additional facility expires on September 30, 2018 and was advanced in connection with the approval from its lenders to increase the Group’s investments by up to € 250 million (about 320 million USD). These investments correspond to the annual recurring investment budget for fiscal year 2012 and a multi-year expansion of the Walt Disney Studios Park, which includes a new attraction .
This new attraction will be the interactive dark ride "Ratatouille" inspired by the Disney/Pixar animation movie. It will be built in a new themed area inspired by the city of Paris, right next to the actual Toy Story Playland that opened in 2010. The building permit was granted in April 2011 by local authorities, and Euro Disney was waiting to validate the financing with the banks before going further with the project. With the credit facility, the situation should evolve quickly and the Group should be now able to receive the authorizations of the bankers to move forward.
The Group states that the additional facility is separate from the € 100 million existing standby revolving credit facility, which expires on September 30, 2014 and is still undrawn. The other terms and conditions of the additional facility are substantially the same as the existing facility.
Although no assurances can be given, the Group believes it has sufficient funds to finance these and other necessary investments and repay its borrowings consistent with the scheduled maturities, based on its existing cash position, liquidity from the Existing Facility and the benefit of certain conditional deferrals permitted under the Group’s existing debt agreements.
Investors reacted positively to the announcement, the Euro Disney share (EDL) jumps this morning to more than 7% at the Paris stock exchange. Note that it was already on the rise since the beginning of the year.
These past three years have been intense for NewsParcs. Our magazine, which has been dedicated to the global theme parks industry since 1998, underwent major changes to become one of the most appreciated magazines among many...
CORPORATE | NewsParcs - Published on January 28, 2014
Our Theme Park Supplier's News of the Week is a round-up of the latest news relative to companies supplying the theme park industry around the world. This weekly report covers topics such as corporate announcements, financial ...
The NewsParcs' Theme Park Supplier's News of the Week is a round-up of the latest news relative to companies supplying the theme park industry around the world. This weekly report covers topics such as corporate announcements, ...
Our Industry Roundup is a summary of the latest major news related to the theme park industry worldwide. We report news specifically on operators, owners, trade associations and related organizations, including trends, attendance...