SeaWorld sets Tuesday lender call for $544 million term loan add-on

By Paul A. Harris

Portland, Ore., Oct. 1 – SeaWorld Entertainment, Inc. set a lender call at 1 p.m. ET on Tuesday for an approximately $544 million fungible add-on to its term loan B-5 (existing ratings B2/B), according to a market source.

JPMorgan is arranging the deal.

Price talk has the deal coming with a 300 basis points spread to Libor atop a 75 bps Libor floor at 99.25 to 99.5. There will be 12.5 bps fee to existing consenting term loan B-5 lenders. The loan features a101 soft call for six months.

Commitments are due at noon ET on Oct. 10.

The Orlando, Fla.-based theme park operator plans to use the proceeds to pay down its existing term loan B-2 and fund an amendment.

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