By the year 2093, they may have to wheel out Mickey Mouse in a wheelchair. But Walt Disney Co. expects to still be kicking: The Burbank (Calif.) entertainment giant intends to issue the first 100-year bonds sold since 1954--the year before Disneyland opened. Taking advantage of investors' rush to higher interest rates in a lackluster economy, Disney is expected to price the $150 million in 100-year notes at 7.5% and market them to pension funds and other long-term players. Whether the bonds will still be around a century hence is another story. Disney frequently reshuffles its debt, and in February redeemed $1 billion in zero-coupon bonds it had issued only two years earlier.

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