SeaWorld Parks to launch $500 million add-on term loan on Tuesday

By Sara Rosenberg

New York, March 12 - SeaWorld Parks & Entertainment Inc. is set to hold a conference call at 2 p.m. ET on Tuesday to launch a proposed $500 million add-on term loan, according to a market source.

Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Macquarie Capital are leading the deal.

Pricing on the add-on is Libor plus 300 basis points with a 1% Libor floor, in line with existing term loan pricing, the source said. Original issue discount is not yet available.

Proceeds will be used to fund a distribution to shareholders.

SeaWorld is an Orlando, Fla.-based theme park operator.

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