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11-01-2012, 12:32 PM #1
is in pain and mega fed upI am:
Disneyland Resort Paris Receives a €150 million Gift from Walt Disney Co.
2012 seems like it will be a good year for Disneyland Paris after they have received a €150 million boost from Walt Disney Company for Disneyland Paris’ investment funds.
Providing the money as an “additional standby revolving credit facility” to Euro Disney S.C.A., the operator of the resort which is 39.8% owned by Disney, it comes on top of an existing credit facility worth €100 million, giving a neat €250 million for future investments.
Could this mean an expansion to Walt Disney Studios Park, well it seems like it does as Walt Disney Studios Park wil be getting a new attraction. More information will be released shortly and as soon as hear anything, we'll let you know.
The press release published this morning specifically states:
Company in connection with an approval from its lenders to increase its investments (Marne-la-Vallée, January 10, 2012) Euro Disney S.C.A. (the "Company"), parent company of Euro Disney Associés S.C.A., operator of Disneyland® Paris (together the "Group"), announces that, on January 6, 2012, it has obtained an additional standby revolving credit facility (the "Additional Facility") of €150 million 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.
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. The Additional Facility is separate from the € 100 million existing standby revolving credit facility (the "Existing 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.
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