From the course: Managerial Finance Foundations
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International financing
From the course: Managerial Finance Foundations
International financing
- Multinational companies borrow money from banks and lenders all over the world. These same companies can choose to have their equity shares traded on many different stock exchanges around the world. With respect to debt financing, some of these foreign borrowings are meant to solidify relationships with local banks and governments where the multinational company does business. Some of these foreign borrowings are meant to take advantage of attractive loan rates or loan conditions offered by foreign banks. Disney offers a good example of loans obtained to solidify relationships with local governments. In its 2020 balance sheet, Disney reported a Hong Kong dollar loan arranged by the government of Hong Kong. This loan is associated with the financing of the Hong Kong Disneyland Resort. Disney also has a 7.6 billion Yuan loan associated with the Shanghai Disney Resort. This loan was arranged by a joint venture set up by the…
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