Walt Disney Co plans to sell $750 million worth of both five- and 10-year notes and $350 million of 30-year bonds, issuing its first 30-year debt in almost a decade. Disney is selling bonds for the second time this year despite Standard & Poor’s saying the company already has “exceptional liquidity.” But the Fed this week signaled it plans to keep interest rates at a record low through the middle of 2013, meaning companies are taking advantage of the low borrowing costs and investors being more likely to seek longer-term bonds and their higher yields. A source told Bloomberg that the proceeds will be used for general corporate purposes but that terms for the deal have not been set.
“Exceptional” Disney To Issue More Debt
For all of Deadline’s headlines, follow us @Deadline on Twitter
Sign up for Newsletters
Trending Now on Deadline
More From Team
- J.J. Abrams To Receive VES Society's Visionary Award
- Elisabeth Moss Joins Cast Of 'Truth', Pic Based On Rathergate Scandal
- Broad Green Finds 'Eden', Music Box Jams With 'Mekons'
- Riley Keough To Topline Steven Soderbergh's 'The Girlfriend Experience' On Starz
- 'Fishing Without Nets' Trailer: Somali Pirate Drama
- Global Showbiz Briefs: South Korea Submits 'Sea Fog' For Foreign-Language Oscar Race; Winnie Lau Joins Jet Tone Films