For most companies, raising $1.6 billion would be a big event. But for The Walt Disney Company it is just a routine visit to the Wall Street bond market.
The offering was sold in two parts: $1 billion of three-year senior notes and $600 million of 30-year senior notes.
With the company’s investment grade credit ratings, Disney got to borrow at some pretty impressive rates. The three-year notes carry a coupon of 0.875% and priced at 99.673% of par for a yield of 0.986%. The 30-year notes carry a coupon of $.125% and priced at 98.829% of par for a yield of $4.194.
The offerings were managed by BNP Paribas, Citigroup, Credit Suisse and Deutsche Bank.
