Euro Disney S.C.A. has announced in an official press release and in a letter to their shareholders that it has obtained an additional credit that they can use to further expand Disneyland Paris. The new money could be used to build the rumoured Ratatouille attraction in the Walt Disney Studios. While nothing is set in stone and nothing has been confirmed by Disney as of yet, this seems the most likely road they will follow. The credit comes from the Walt Disney Company, something that was expected after lending from banks became more and more a difficulty, even if you carry the Disney brand name. Without new investments a company cannot grow. This counts for Euro Disney and their parks in France as well. New, incredible, attractions are needed to have guests return to the resort and to make money and profits so a company can evolve.
Plans for the Ratatouille dark ride attraction have leaked a quite a while ago and had fans of Disneyland Paris on the edge of their seats ever since. Together with a nice new area and a restaurant with the same theme, this new ride would give the Studios even more Disney style, something that was missing during it opening according to many Disney fans. The new attraction would be placed next to the new Toy Story Playland where some early preparations for the rumoured attraction where already set in place, including the pathway with the Remy decorated benches and the covered Gusteau head on the archway.
A full Press release can be seen below.
Euro Disney S.C.A. (the “Company”), parent company of Euro Disney Associés S.C.A., operator of Disneyland® Paris (together the “Group”), announces that, on January 6, 2012, it has obtained an additional standby revolving credit facility (the “Additional Facility”) of € 150 million from The Walt Disney Company. This Additional Facility expires on September 30, 2018 and was advanced in connection with the approval from its lenders to increase the Group’s investments by up to € 250 million. These investments correspond to the annual recurring investment budget for fiscal year 2012 and a multi-year expansion of the Walt Disney Studios® Park, which includes a new attraction. The Additional Facility is separate from the € 100 million existing standby revolving credit facility (the “Existing Facility”), which expires on September 30, 2014 and is still undrawn. The other terms and conditions of the Additional Facility are substantially the same as the Existing Facility.
Although no assurances can be given, the Group believes it has sufficient funds to finance these and other necessary investments and repay its borrowings consistent with the scheduled maturities, based on its existing cash position, liquidity from the Existing Facility and the benefit of certain conditional deferrals permitted under the Group’s existing debt agreements.”
