secwatch.observer — SEC 8-K summary
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Issuer:     Walt Disney Co (DIS)
CIK:        0001744489
Form:       8-K
Filed at:   2024-03-04T23:59:59+00:00
Accession:  0001193125-24-057958
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Disney enters $5.25B 364-day and $3B five-year credit facilities; replaces existing agreements
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- New $5.25B 364-day credit facility expires Feb 28, 2025, with option to extend to Feb 27, 2026.
- New $3B five-year credit facility expires March 1, 2029; both unsecured with TWDC Enterprises guarantee.
- Facilities replace prior $5.25B (2023) and $3B (2020) credit agreements; support commercial paper and corporate purposes.
- Interest rate spreads range from 0.625% to 1.000% for SOFR advances, based on Disney's public debt rating.
- Covenant requires minimum ratio of Consolidated EBITDA to Interest Expense of 3.00 to 1.00.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1744489/000119312524057958/0001193125-24-057958-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1744489/000119312524057958/d759203d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-057958

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer