Walt Disney Co. Plans Another Large Debt Sale To Further Boost Financial Position Amidst COVID-19

deadline.com:

By Jill Goldsmith Walt Disney Co. filed a prospectus Monday with the SEC to offer multiple tranches of senior notes maturing between 2026 and 2060 to raise fresh cash.

The amount, not specified yet, will be announced later but is likely to be quite large. Companies often file plans to sell notes with the ultimate amount dependent on investor enthusiasm and interest rates.

Moody’s Investor Service said in a note today the cash will likely be used to pay down outstanding debt as it matures. It said Disney’s current debt maturities at the end of the March quarter were about $12.7 billion over the next twelve months. “We believe that the cash on hand and bank facilities will be more than adequate to meet all the company’s needs at this time