Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Walt Disney Productions Deal - Lehman Brothers Collection

Walt Disney Productions

Company Dealpublic offering $40,000,000 convertible subordinated debentures
Transaction TypeConvertible Subordinated Debentures
Deal DescriptionWalt Disney Productions used the net proceeds from this transaction for capital expenditures in connection with its development program in Florida. It also used $10,000,000 of the proceeds to retire a portion of its long-term debt. The Florida program involved the development of 27,400 acres of land near Orlando, Florida, as an entertainment and recreation complex and a model community of the future. The entertainment and recreation complex consisted of an amusement theme park similar to Disneyland, a variety of recreational activities (such as golf, tennis, water sports, and exhibitions), hotel, motel, and camping ground facilities in "theme resort" settings, and a transportation system to link the various parts of the complex. The model community was known as the Experimental Prototype Community of Tomorrow ("EPCOT"). This community was to feature experimental and novel standards of design and to serve as a showcase for technological developments in urban housing, commercial facilities, and transportation.
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