Theme Park Operator Behind 26 Parks Is Raising $1B in New Notes

Theme park operator behind 26 parks is raising $1B in new notes

Six Flags prices $1.0B of 8.625% senior notes due 2032, with proceeds and cash on hand set to redeem its 2027 notes and cover related costs.

Six Flags to borrow more money to pay off debt

By Robert Niles: Have you ever known anyone who opened a new credit card to get money to make the payments on their existing credit cards?Sure, you do. Because that is - in a very oversimplified way - basically what Six Flags is doing now. In a press release today, the company announced that it will issue $1 billion in Senior Notes due 2032, with the proceeds paying off previously issued Notes that are due next year.Here is the legalese: "The Co…

Six Flags to sell $1B in senior notes to refinance debt

Six Flags plans to sell $1 billion in unsecured senior notes to refinance debt due in April 2027. The Charlotte-based amusement park operator will use the proceeds, along with cash on hand, to pay off notes that have stated yields of 5.375% and 5.5%, according to an SEC filing Tuesday. The new senior notes come due in 2032. They take precedence over other debts in the case of financial trouble, including bankruptcy. Because they offer less risk,…