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Chase to Help Fund Disney Hong Kong Park

August 18, 2000|Bloomberg News

Chase Manhattan Corp. will help raise $423 million to finance part of Walt Disney Co.'s $2.9-billion theme park in Hong Kong, a Disney spokesman said. Chase's financing will go toward construction of the park, which is scheduled to open in 2005. The Hong Kong government, which owns 57% of the park, is paying for the bulk of the project. Burbank-based Disney owns the rest. Hong Kong is investing $2.2 billion in the park and surrounding infrastructure. Chase is expected to bring in other banks to fund parts of the loan. On the New York Stock Exchange, Chase shares gained 31 cents to close at $50.69; Disney rose 31 cents to close at $40.19.

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