Between 1992 and 1994, a combination of reasons led to financial encumbrance at Euro Disney: the US$4 billion debt posed a huge financial burden on the park, intimacy order of battle were double that estimated, phaeton spending was reduce because of recession in Europe, half the tax revenue projected to come from real demesne development did not materialize as a declaration of the collapse of the holding market in France, a well-set franc which made it dearly-won for visitors, and low attendance which fell on a lower floor the expected annual 10 million for the pe riod. 1.4 In 1994, a huge financial restruct! uring took place to reduce debt by ? ? US$1 billion. This gave Euro Disney 24 months forgiveness from paying interest on roughly US$3 billion of the loans, along with a 3-year postponement on paying back the principal. The consortium of 60 banks also agreed to arrange for buyers of 51% of a US$1.2 billion rights offering that would be used to pay downwardly debt. Disney...If you want to get a full essay, order it on our website: OrderEssay.net
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