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This excerpt taken from the DIS 10-K filed Dec 7, 2005. Euro Disney – Other
advances. Advances of
€331 million
($400 million at October 1, 2005 exchange rates) bear
interest at a fixed rate of 3.0%. The remaining advances of
€15 million
($18 million at October 1, 2005 exchange rates) bear
interest at EURIBOR plus 3% (5.18% at October 1, 2005). The
advances are scheduled to mature between fiscal years 2013 and
2017. $18 million of the advances are secured by certain
theme parks assets. The impact of the restructuring effective
February 23, 2005 on the other advances includes the
deferral either directly or indirectly of principal payments for
3.5 years.
In the second quarter of 2005, Euro Disney’s borrowings were reclassified to long-term consistent with the terms of the Euro Disney financial restructuring as the debt is no longer subject to acceleration by the lenders.
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