Disney secures USD6 billion debt offering
With all its parks closed globally, Disney has raised $6 billion additional funding through new debt offerings.
The funds will be used for ‘general purposes and debt repayment’ the company said in a filing.
Based on previous park revenue and attendance figures, Disney could lose about $500 million just from closing its parks through the end of March.
It is looking extremely likely the closures will be extended.
"We expect the ultimate significance of these disruptions, including the extent on our financial and operational results, will be dictated by the length of time that such disruptions continue which will, in turn, depend on the currently unknowable duration of the COVID-19 pandemic," the filing said.
The global park closure has led to a decline of about 11 million visitors.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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