The Walt Disney Co. has raised nearly $11 billion in a new debt offering as it continues to deal with the impact of the coronavirus pandemic.
In a Tuesday regulatory filing, the company disclosed details of its latest return to the debt market via a senior unsecured notes offering. The offering, expected to secure proceeds of $10.91 billion after deducting underwriting costs, will include tranches maturing in 2026, 2028, 2031, 2040, 2051 and 2060.
In the supplement, the company said the offering was guaranteed by TWDC Enterprises 18 Corp., a Disney subsidiary. And it reiterated that it would use the proceeds to in part repay TWDC Enterprises’ $750 million in senior notes due in June and its floating rate notes due in June, of which $500 million are outstanding.
Disney, which has seen major business divisions hit by the impact of the coronavirus pandemic, also reported that, as of March 28, it had commercial paper borrowings worth $8.48 billion.
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