Disney Sells $1.1 Billion in Bonds

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Walt Disney Company sold $1.1 billion through the issuance of two new bonds today. 


Disney sold $750m of a bond maturing in three years with an interest rate that floats seven basis points over the three month London interbank offered rate (LIBOR).

The second bond was $350 million in size and matures in 2017. The company will pay an interest rate fixed at 6.00%. It was initially priced to the public to give a yield of 6.03%, or 90 basis points over the 10-year Treasury bond.

Walt Disney Co. is rated A2 by Moody’s and A- by S&P.

The transaction was managed by BNP Paribas, Credit Suisse First Boston, Goldman Sachs and JP Morgan.

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