PRN: 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
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
MARNE-LA-VALLÃE, France, January 10, 2012 /PRNewswire/ --
Euro Disney S.C.A. (the "Company"), parent company of Euro Disney AssociÃ©sÂ S.C.A., operator of DisneylandÂ® Paris (together the "Group"), announces that, on JanuaryÂ 6, 2012, it has obtained an additional standby revolving credit facility (the "Additional Facility") of €Â 150Â 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 €Â 250 million. These investments correspond to the annual recurring investment budget for fiscal year 2012 and a multi-year expansion of the Walt Disney StudiosÂ® 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 a! nd 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:Â Â Â Â Â Â Â Â FR0010540740 Â Â Â Â Â Â
The Group operates DisneylandÂ®Â Paris which includes: DisneylandÂ®Â Park, Walt Disney StudiosÂ®Â Park, seven themed hotels with approximately 5,800 rooms (excluding approximately 2,400 additional third-party rooms located on the site), two convention centers, DisneyÂ®Â 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 andÂ traded on Euronext Paris.
Press ContactÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Investor Relations
Company Codes: Bloomberg:EDIA@GR, Bloomberg:EDL@FP, RICS:EDLP.F, RICS:EDLP, Euroclear:12587, ISIN:FR0010540740