Euro Disney S.C.A. (the "Company"), parent company of Euro Disney Associés S.C.A., operator of Disneyland® Paris (together the "Group"), announces that, on January 6, 2012, it has obtained an additional standby revolving credit facility (the "Additional Facility") of € 150 million from The Walt Disney Company. This Additional Facility expires on September 30, 2018 and was advanced in connection with the approval from its lenders to increase the Group’s investments by up to € 250 million. These investments correspond to the annual recurring investment budget for fiscal year 2012 and a multi-year expansion of the Walt Disney Studios® Park, which includes a new attraction. The Additional Facility is separate from the € 100 million existing standby revolving credit facility (the "Existing Facility"), which expires on September 30, 2014 and is still undrawn. The other terms and conditions of the Additional Facility are substantially the same as the Existing Facility.
Although no assurances can be given, the Group believes it has sufficient funds to finance these and other necessary investments and repay its borrowings consistent with the scheduled maturities, based on its existing cash position, liquidity from the Existing Facility and the benefit of certain conditional deferrals permitted under the Group’s existing debt agreements.
So this basically means that Walt Disney Studios Park will be getting a major new addition as a park of a larger financially-backed expansion for the park. Sounds exciting!