Euro Disney signs financial accord

Euro Disney, Europe’s largest theme-park operator, has signed a financial accord with its lenders agreed in September, the company said in a statement posted on the AMF stock market regulator’s website.

Under the agreement, Euro Disney has until March 31 to raise €250m in a share sale. Failure to do so would mean the company would have until the end of April to reach a new agreement, without which the company would be unable to meet its financial obligations.

Euro Disney expects to post losses for “many of its next earnings periods,” in part because of swelling royalties to be paid to parent company the Walt Disney Company.