The Walt Disney Company Reports New Credit Agreements
Summary
On February 27, 2026, The Walt Disney Company (via Ex. 10.1 and 10.2) entered into new unsecured credit agreements, replacing previous facilities. These include a $5.25 billion 364-Day Credit Agreement with Citibank, N.A. as Designated Agent, and a $4 billion Five-Year Credit Agreement with JPMorgan Chase Bank, N.A. as Designated Agent. Both are guaranteed by TWDC Enterprises 18 Corp. and support commercial paper borrowings and general corporate purposes. * The 364-Day Credit Agreement expires on February 26, 2027, with an option to extend to February 26, 2028. * The Five-Year Credit Agreement expires on February 27, 2031. * Borrowings bear interest based on various benchmarks plus a spread.
Why It Matters
These agreements ensure continued access to substantial liquidity, maintaining $9.25 billion in credit facilities. This supports the Company's commercial paper program and general corporate purposes, which is crucial for financial stability and ongoing operations.
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Key Quote
“Credit Agreement, the "Credit Agreements," and each a "Credit Agreement"), and replaces the Company's $4 billion Five-Year Credit Agreement, dated as of March 4, 2022.”
— From Item 8.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001744489
- Filing Date
- Tuesday, March 3, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- medium
- Sentiment
- positive