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DIS » Topics » Existing Borrowings

This excerpt taken from the DIS 10-K filed Nov 22, 2006.

Existing Borrowings

  •   Approximately €110 million of amounts outstanding on the existing line of credit from the Company and €60 million of deferred interest payable to Caisse des Dépôts et Consignations (CDC), a French state financial institution, were converted into long-term subordinated borrowings

 

  •   The interest rate on approximately €450 million of Euro Disney’s senior borrowings was increased by approximately 2%

 

  •   Approximately €300 million of principal payments on senior borrowings were deferred for three and one-half years

 

  •   Principal payments on certain CDC borrowings were deferred for three and one-half years

 

  •   Euro Disney’s security deposit requirement was eliminated and the existing deposit balance totaling €100 million was paid to senior lenders as a principal payment

 

  •   Interest payments for fiscal 2005 through fiscal 2012, of up to €20 million per year, payable to the CDC will be converted to long-term subordinated borrowings if operating results do not achieve specified levels. Interest payments of €20 million for fiscal 2005 were converted to borrowings in fiscal 2006. The Company expects interest payments of €20 million for fiscal 2006 to be converted into borrowings in fiscal 2007.

 

  •   Interest payments for fiscal 2013 through fiscal 2014, of up to €23 million per year, payable to the CDC will be converted to long-term subordinated borrowings if operating results do not achieve specified levels
This excerpt taken from the DIS 10-K filed Dec 7, 2005.
Existing Borrowings
  •  Approximately €110 million of amounts outstanding on the existing line of credit from the Company and €60 million of deferred interest payable to Caisse des Dépôts et Consignations (CDC), a French state financial institution, were converted into long-term subordinated borrowings
 
  •  The interest rate on approximately €450 million of Euro Disney’s senior borrowings was increased by approximately 2%
 
  •  Approximately €300 million of principal payments on senior borrowings were deferred for three and one half years
 
  •  Principal payments on certain CDC borrowings were deferred for three and one half years
 
  •  Euro Disney’s security deposit requirement was eliminated and the existing deposit balance totaling €100 million was paid to senior lenders as a principal payment
 
  •  Interest payments for fiscal 2005 through fiscal 2012, up to €20 million per year, payable to the CDC will be converted to long-term subordinated borrowings if operating results do not achieve specified levels. There were no interest payments converted to long-term subordinated borrowings in fiscal 2005
 
  •  Interest payments for fiscal 2013 through fiscal 2014, up to €23 million per year, payable to the CDC will be converted to long-term subordinated borrowings if operating results do not achieve specified levels

EXCERPTS ON THIS PAGE:

10-K
Nov 22, 2006
10-K
Dec 7, 2005

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