Six Flags to launch $1.1 billion credit facility on Thursday

By Sara Rosenberg

New York, April 23 - Six Flags Inc. is scheduled to hold a bank meeting on Thursday to launch its proposed $1.1 billion senior secured credit facility, according to a market source.

JPMorgan, Credit Suisse and Lehman Brothers are the joint lead arrangers and joint bookrunners on the deal, with JPMorgan the administrative agent, and Credit Suisse and Lehman as co-syndication agents.

The facility consists of an $800 million term loan B due April 2015 and a $300 million revolver due March 2013.

Proceeds will be used to refinance amounts outstanding under the company's existing credit facility, which consists of a $637 million term loan B, a $300 million revolver and an $82.5 million multicurrency facility. Any remaining proceeds will be used for working capital and general corporate purposes.

Six Flags is a New York-based regional theme park company.

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