Walt Disney Company secures new $5 billion credit agreement

Apr 14, 2020 in "The Walt Disney Company"

Posted: Tuesday April 14, 2020 9:40am ET by WDWMAGIC Staff

The Walt Disney Company has entered into a new credit agreement with Citibank for up to $5 billion.

Going into effect on April 10 2020, the 364 day credit agreement allows for up to $5 billion to be used for general corporate purposes.

This new credit agreement comes on the back of a similar deal entered into on March 6, which saw the company enter into a $5.25 billion credit agreement along with a $3 billion five year credit agreement.

The new financial packages are aimed at helping the company weather the COVID-19 shutdown which has seen shares in Disney fall by 30% year to date.

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