Printer Friendly

THE WALT DISNEY CO. REDEEMS ITS ZERO COUPON CONV SUB DEBS DUE 2005

 BURBANK, Calif., Feb. 10 /PRNewswire/ -- The Walt Disney Co. (NYSE: DIS) announced today that it is redeeming all of its zero coupon convertible subordinated debentures due 2005. The debentures will be redeemed on March 11, 1993, at a redemption price of $483.50 for each $1,000 in principal amount at maturity, Disney said. The redemption price is equal to the original issue price of the debentures plus accrued interest to the redemption date. The true redemption payment will be approximately $1.03 billion.
 The company said the redemption will allow it to take advantage of a decrease in interest rates that has occurred over the past two years since the issuance of the debentures. The company plans to finance the redemption with available cash and the proceeds from new, lower cost borrowings.
 The paying agent for the redemption will be Citibank, N.A.
 -0- 2/10/93
 /CONTACT: John Dreyer of The Walt Disney Co., 818-560-5400/
 (DIS)


CO: The Walt Disney Co. ST: California IN: LEI ENT SU:

EH-JL -- LA015 -- 5145 02/10/93 12:18 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 10, 1993
Words:178
Previous Article:EZCONY INTERAMERICA ANNOUNCES PRELIMINARY RESULTS
Next Article:OCCIDENTAL ANNOUNCES THIRD GAS DISCOVERY IN MALAYSIA
Topics:


Related Articles
THE WALT DISNEY CO. AND MERRILL LYNCH ANNOUNCE THEY WILL NOT PURSUE ZERO-COUPON BASED NETWORK TELEVISION INDEXED BOND OFFERING
THE WALT DISNEY CO. REACHES AGREEMENT WITH LONDON-BASED TVS ENTERTAINMENT
/C O R R E C T I O N -- WALT DISNEY CO./
WALT DISNEY CO. REPORTS EARNINGS
Meditrust's Ratings Affirmed by S&P After Acquisition Announcement
Cobblestone Holdings, Unit on S&PWatch Re:Acq by Meditrust
Adams Express Company Board Declares Dividend
FREE Little Mermaid cinema tickets and badge.
Global Corporate/Sovereign Daily Rating Action.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters