Walt Disney Enters New $5 Billion Credit Agreement For Coronavirus Cushion, Follows $6 Billion Debt Sale Last Month

deadline.com:

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