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
What's Hot on Deadline
'Batman v Superman: Dawn of Justice': 2 New TV Spots Promote Gotham City, Metropolis & Turkish Airlines