E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 6/18/2019 in the Prospect News High Yield Daily.

Cedar Fair to price $500 million 10-year notes in Tuesday drive-by

By Paul A. Harris

Portland, Ore., June 18 – Cedar Fair, LP plans to price a $500 million offering of 10-year senior notes (existing ratings B1/BB-) in a quick-to-market Tuesday trade, market sources say.

Initial price talk is in the 5 5/8% area, a trader said.

J.P. Morgan Securities LLC is the lead bookrunner for the Rule 144A and Regulation S offering.

The notes come with five years of call protection.

The Sandusky, Ohio-based amusement-resort operator plans to use the proceeds for the proposed acquisition of Schlitterbahn Waterpark and Resort New Braunfels and Schlitterbahn Waterpark Galveston, the purchase of the land upon which California’s Great America amusement park is located, to pay down its senior secured revolving credit facility and for general corporate purposes.


© 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.