Walt Disney to sell six-part offering of fixed-rate notes, floaters

By Devika Patel

Knoxville, Tenn., Sept. 3 – Walt Disney Co. plans to sell six tranches of notes, according to a 424B5 filing with the Securities and Exchange Commission.

The offering includes two tranches of floating-rate notes and four tranches of fixed-rate notes.

Interest on the floaters will be based on Libor.

The fixed-rate notes have a make-whole call until the par call date, and then a par call. The floaters are non-callable.

The notes will be guaranteed by TWDC Enterprises 18 Corp.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp., HSBC Securities (USA) Inc. and RBC Capital Markets LLC are the bookrunners.

Proceeds will be used for a cash tender offer for the company’s 8.25% notes due 2096, 7.9% notes due 2095, 7.75% notes due 2045, 6.15% notes due 2041, 8.15% notes due 2036, 7.85% notes due 2039, 6.75% notes due 2038, 6.9% notes due 2039, 6.15% notes due 2037, 6.4% notes due 2035, 6.65% notes due 2037, 5.4% notes due 2043 and 8.45% notes due 2034, to prepay in full the $3,175,000,000 of outstanding principal under its credit facility and for general corporate purposes.

Walt Disney is a Burbank, Calif.-based entertainment and media company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.