Walt Disney Co false 0001744489 0001744489 2020-05-11 2020-05-11

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 11, 2020

 

THE WALT DISNEY COMPANY

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-38842

 

83-0940635

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

500 South Buena Vista Street

Burbank, California

 

91521

(Address of principal executive offices)

 

(Zip Code)

(818) 560-1000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, $0.01 par value

 

DIS

 

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 

 


Item 8.01. Other Events.

On May 11, 2020, The Walt Disney Company (the “Company”) entered into an Underwriting Agreement with BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC, with respect to the offer and sale of $1,500,000,000 aggregate principal amount of its 1.750% Notes due 2026 (the “2026 Notes”), $1,000,000,000 aggregate principal amount of its 2.200% Notes due 2028 (the “2028 Notes”), $2,500,000,000 aggregate principal amount of its 2.650% Notes due 2031 (the “2031 Notes”), $1,750,000,000 aggregate principal amount of its 3.500% Notes due 2040 (the “2040 Notes”), $2,750,000,000 aggregate principal amount of its 3.600% Notes due 2051 (the “2051 Notes”) and $1,500,000,000 aggregate principal amount of its 3.800% Notes due 2060 (the “2060 Notes” and, collectively with the 2026 Notes, the 2028 Notes, the 2031 Notes, the 2040 Notes and the 2051 Notes, the “Notes”).

The Notes will be issued pursuant to that certain Indenture, dated as of March 20, 2019, between the Company, TWDC Enterprises 18 Corp., as guarantor, and Citibank, N.A., as Trustee. The Notes have been registered under the Securities Act of 1933, as amended (the “Act”) pursuant to a Registration Statement on Form S-3 (No. 333-233595) previously filed with the Securities and Exchange Commission (the “Commission”) under the Act.

Copies of the Underwriting Agreement, the officer’s certificates of the Company establishing the terms of the Notes, the forms of Notes and the opinion of Cravath, Swaine & Moore LLP as to the validity of the Notes and related guarantees are filed as exhibits hereto and incorporated herein by reference. The Company is filing this Current Report on Form 8-K so as to file with the Commission certain items that are to be incorporated by reference into its Registration Statement.


Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

         
 

  1.1

   

Underwriting Agreement, dated May 11, 2020, among The Walt Disney Company, TWDC Enterprises 18 Corp. and BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC, as representatives of the several underwriters named therein.

         
 

  4.1

   

Indenture (incorporated by reference from Exhibit 4.1 to The Walt Disney Company’s Current Report on Form 8-K filed on March 20, 2019).

         
 

  4.2

   

Officer’s Certificate, dated as of May 13, 2020, establishing the 2026 Notes and their terms.

         
 

  4.3

   

Officer’s Certificate, dated as of May 13, 2020, establishing the 2028 Notes and their terms.

         
 

  4.4

   

Officer’s Certificate, dated as of May 13, 2020, establishing the 2031 Notes and their terms.

         
 

  4.5

   

Officer’s Certificate, dated as of May 13, 2020, establishing the 2040 Notes and their terms.

         
 

  4.6

   

Officer’s Certificate, dated as of May 13, 2020, establishing the 2051 Notes and their terms.

         
 

  4.7

   

Officer’s Certificate, dated as of May 13, 2020, establishing the 2060 Notes and their terms.

         
 

  4.8

   

Form of 2026 Notes (included as Exhibit A to Exhibit 4.2).

         
 

  4.9

   

Form of 2028 Notes (included as Exhibit A to Exhibit 4.3).

         
 

  4.10

   

Form of 2031 Notes (included as Exhibit A to Exhibit 4.4).

         
 

  4.11

   

Form of 2040 Notes (included as Exhibit A to Exhibit 4.5).

         
 

  4.12

   

Form of 2051 Notes (included as Exhibit A to Exhibit 4.6).

         
 

  4.13

   

Form of 2060 Notes (included as Exhibit A to Exhibit 4.7).

         
 

  5.1

   

Opinion of Cravath, Swaine & Moore LLP.

         
 

23.1

   

Consent of Cravath, Swaine & Moore LLP (included as part of Exhibit 5.1).

         
 

104

   

Cover Page Interactive Data File (embedded within the Inline XBRL Document)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE WALT DISNEY COMPANY

     

By:

 

/s/ Jolene E. Negre

Name:

 

Jolene E. Negre

Title:

 

Associate General Counsel and Assistant Secretary

Date: May 13, 2020

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