Disney Looks to Creditors for More Cash
Disney (NYSE:DIS) intends to sell bonds again this year after selling issues for $1.85B in August and an additional $500M in May. An inside source says the company plans to sell 3-year and 30-year maturities for a minimum of $500M each.
Fitch Ratings lends a hand in reducing Disney’s borrowing expenses by giving the company’s suggested 3-year and 30-year senior unsecured notes an ‘A’ rating. The agency explains its appraisal by pointing out Disney’s capacity to “consistently leverage and monetize its brands and characters.”
Here’s how Disney is trading on the news:
Walt Disney Co. (NYSE:DIS): DIS shares recently traded at $34.09, up $0.02, or 0.06%. They have traded in a 52-week range of $28.19 to $44.34. Volume today was 4,239,579 shares versus a 3-month average volume of 12,948,300 shares. The company’s trailing P/E is 13.53, while trailing earnings are $2.52 per share.