United Parks launches $230 million term loan at 99.75-99.875 OID

By Sara Rosenberg

New York, April 2 – United Parks & Resorts Inc. (SeaWorld Parks & Entertainment Inc.) held a lender call at 11 a.m. ET on Tuesday to launch a fungible $230 million incremental term loan due 2028 that is talked with an original issue discount of 99.75 to 99.875, according to a market source.

Pricing on the term loan is SOFR plus 250 basis points with a 0.5% floor, and the debt has 101 soft call protection until July.

JPMorgan Chase Bank is the lead and the administrative agent on the deal.

Commitments are due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used to redeem the company’s $227.5 million 8¾% senior secured notes due 2025.

United Parks is an Orlando, Fla.-based theme park and entertainment company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.