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Walt Disney Co 8-K Report, Corporate Update (Mar 3, 2026)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed March 3, 2026
Period End
February 27, 2026
Security
DIS
In the record · 2019–202610-K910-Q238-K106

DIS filed 9 annual reports (10-K), 23 quarterly reports (10-Q) and 106 current reports (8-K) between 2019 and 2026.

  1. Deal closed8-K · Aug ’19Aug ’19
  2. Leadership change8-K · Dec ’21Dec ’21
  3. Impairment8-K · Jun ’23Jun ’23
  4. Leadership change8-K · Oct ’24Oct ’24

01—Abstract

Summary

Summary of the 8-K filed March 3, 2026. Cited figures are marked; the original filing is the authoritative source.

The Walt Disney Company (DIS) announced on March 3, 2026, through an 8-K filing, the establishment of new credit facilities.

The company entered into a $5.25 billiona 364-Day Credit Agreement and a $4 billion Five-Year Credit Agreement, replacing previous facilities of similar amounts. These new agreements are unsecured and guaranteed by TWDC Enterprises 18 Corp., providing essential liquidity for commercial paper borrowings and general corporate purposes. The new facilities offer flexibility in borrowing terms, including options for various interest rate benchmarks (SOFR, EURIBOR, TIBO, SONIA, or Base Rate) plus a spread based on DIS's public debt rating.

Both agreements include customary covenants, such as financial reporting and limitations on mergers, and require a minimum Consolidated EBITDA to Consolidated Interest Expense ratio of 3.00:1.00. The 364-day facility can be extended by a year, while the five-year facility matures in 2031, providing significant financial flexibility.

02—Key points

Key Highlights

  1. New $5.25 billion 364-day credit facility and a $4 billion five-year credit facility established, replacing prior agreements.
  2. Total committed credit capacity of $9.25 billion available for commercial paper borrowings and general corporate purposes.
  3. Both new credit agreements are unsecured and benefit from a guarantee by TWDC Enterprises 18 Corp.
  4. Flexible interest rate options including various benchmark rates plus a spread tied to Disney's public debt rating.
  5. The 364-day credit agreement has an option for a one-year extension, providing potential for extended liquidity.
  6. The five-year credit agreement extends the maturity date to February 27, 2031.
  7. Customary covenants and a financial maintenance covenant requiring a minimum Consolidated EBITDA to Consolidated Interest Expense ratio of 3.00:1.00 are included.

03—Questions

Frequently Asked Questions

  1. What is the total amount of new credit facilities secured by Disney?

    Disney has secured a total of $9.25 billion in new credit facilities, comprising a $5.25 billion 364-Day Credit Agreement and a $4 billion Five-Year Credit Agreement.

  2. What is the purpose of these new credit facilities?

    These credit facilities are primarily intended to support the Company's commercial paper borrowings and are available for other general corporate purposes, providing essential liquidity and financial flexibility.

  3. Are these new credit facilities secured or unsecured?

    Both the 364-Day Credit Agreement and the Five-Year Credit Agreement are unsecured. However, they include a guarantee from TWDC Enterprises 18 Corp. for the Company's payment obligations.

  4. What are the maturity dates for these new credit agreements?

    The 364-Day Credit Agreement expires on February 26, 2027, with an option to extend maturity to February 26, 2028. The Five-Year Credit Agreement expires on February 27, 2031.

04—Continue

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