The Walt Disney Company raised nearly $6 billion in a new debt offering, revealing the move in a filing Friday with the U.S. Securities and Exchange Commission.
Disney said in the filing that it expects “to use the net proceeds from the sale of the notes for general corporate purposes, including the repayment of indebtedness (including commercial paper).” The filing appears a day after another SEC document in which Disney told investors that the impact of the coronavirus was affecting activity at its theme parks and on its ability to secure advertising revenue as well as some of its operations that thrive on broadcasting live sports.
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“We estimate that the net proceeds to us from the sale of the notes in this offering will be approximately $5,948,770,000 after deducting the underwriting discounts but before deducting estimated offering expenses payable by us,” the company said in the filing.
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