By Jill Goldsmith Walt Disney said Monday it’s entered into a new $5 billion, one-year credit agreement. That follows $6 billion the company raised last month with a sale of debt securities.
The current agreement matures in April of 2021 and could be extended for a year. It provides for advances to be made for a year to be used for general corporate purposes, the company said in a SEC filling.
Disney and other companies have been amassing a war chest to see it through the coronavirus pandemic, which has hit its divisions hard from theme parks to production to live sports and advertising.
The agreement gives it a hefty extra $11 billion in fresh cash. It’s raising so much cash because its particularly exposed to the carnage of COVID-19 and
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