Disney Plans LYONS Offering: Walt Disney Co....
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From Times Staff and Wire Service Reports
Disney Plans LYONS Offering: Walt Disney Co. has informed the SEC of plans for a Liquid Yield Option Notes (LYONS) offering that would raise $600 million. Funds raised from the notes, which would mature in 2005, would be used for general corporate purposes, such as capital investments, and repayment of outstanding commercial loans, according to the company. Merrill Lynch Capital Markets would act as sole underwriter of the LYONS, which would have a value of $1.5 billion at maturity.
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