Euro Disney calls on firms to help refinance debt
5th October 2012
A raft of major international firms, including a Magic Circle practise based in London, have been instructed by the Walt Disney Company to assist them in refinancing the €1.3 billion debts of its European arm, Euro Disney.
Several high ranking solicitors with finance, tax, corporate and employment partnership legal jobs have been tasked with advising the multinational corporation on the significant deal, which took the form of Euro Disney’s parent company providing its subsidiary with a sizeable loan.
A syndicate of banks had previously owned the substantial debt, but it is hoped that the refinancing measures that have now been introduced, including a €100 million revolving credit facility, will help to alleviate to some extent the problems that had been created within the company.
Despite the difficulties it has faced in recent times, Disneyland Paris remains the most popular tourist attraction throughout all of Europe, with no less than 15.6 million visitors coming to the sprawling site in 2011.