The Walt Disney Company bond investment idea

The Walt Disney Company – an American media corporation that owns Marvel, Star Wars, Pixar, Disney Studios and ESPN, as well as a network of theme parks in the United States, Europe and Asia and its own cruise fleet. The business model is based on multi-channel monetization of its own intellectual property. The costs of creating a franchise are one-time, while revenue generation is distributed across independent channels – theatrical distribution, streaming, consumer product licensing, park attractions, cruise programs – and spans a long horizon.

Investment thesis:

• Expansion of park capacity
• Expansion of cruise business
• Streaming services
• Contracted monetization of own brands
• New management

Yield to maturity – 5.29%
Minimum lot – $2,000
Credit ratings – Moody’s (A2), S&P (A)
Coupon rate – 8.45%
Maturity date – 08/01/2034