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.
Next Scheduled Release: Availability of the 2011 Reference Document in January 2012
Additional Financial Information can be found on the internet at http://corporate.disneylandparis.com
Code ISIN: FR0010540740 Code Reuters: EDLP.PA Code Bloomberg: EDL:FPThe Group operates Disneyland® Paris which includes: Disneyland® Park, Walt Disney Studios® Park, seven themed hotels with approximately 5,800 rooms (excluding approximately 2,400 additional third-party rooms located on the site), two convention centers, Disney® Village, a dining, shopping and entertainment centre, and a 27-hole golf course. The Group's operating activities also include the development of the 2,230-hectare site, half of which is yet to be developed. Euro Disney S.C.A.'s shares are listed and traded on Euronext Paris.
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Euro Disney obtains an additional standby revolving credit facility from The Walt Disney Company in connection with an approval from its lenders to increase its investments. |